Boston continues to shine nationally due to our healthcare, education, finance, biotech and high-tech industries. Blackstone, owners of Equity Office are shopping their remaining Class A office portfolio to perhaps one buyer, which will push office rent even higher as the new ownership justifies their investment.
Here are some relevant projections for the Boston office market, from nerej.com:
A few key neighborhoods and areas will see particularly high levels of growth this year. Although major areas like the Back Bay and the Financial District continue to provide the largest amount of market space, growth and many new lease transactions will be seen in other areas, which provide more opportunities for company relocation and for out-of-town businesses to take root…Kendall Sq. in Cambridge is currently red hot, both for offices and for lab space in medicine, high-tech, and more. In particular, Google is coming in to Kendall Sq. and will take up 300,000 s/f of office space. Google will leave its own large footprint, while making the area even more attractive for other tech companies.