0 Boston Commercial Real Estate Market Ripe for Investors

Boston Skyline over the Charles

Credit: Commercial Observer

The Boston area real estate market continues to offer investors a relative bargain compared with other markets when you consider rents, office space availability, workforce, employment numbers, and new construction.

Commercial Observer lists out the top ten reasons why investors should keep their eye on the area:

  1. Office vacancy is the lowest it’s been since before the Great Recession.
  2. Office asking rents are the highest they’ve been since before the Great Recession.
  3. These higher rents include even Class B space.
  4. Job growth in the Boston region is exploding—just look at GE.
  5. And look at the biotechnology industry.
  6. Boston’s office landlords are upgrading existing spaces and adding relatively little new inventory.
  7. Eataly, etc.
  8. The hotel market is one of the nation’s hottest—and tightest.
  9. As for Boston’s multifamily market, it’s nearly impossible to find one with better fundamentals.
  10. The region remains a relative steal.

 

0 Available Office Space in Boston: It Still Exists!

office space for rent

185 Dartmouth Street Office Building

Is your company on the hunt for new office space in Boston?  The vacancy rate overall in Boston in just above 13% which means there are many desirable options.

The BBJ notes, “the Boston office-building real estate market is on an uptrend, with rates rising more than 5 percent in the last year in nine out of the 12 of the city’s submarkets, and vacancy rates nearing a eight-year low in the second quarter of 2015, according to a JLL’s Office Insight report…But, by the same token, a 13.1 percent vacancy rate in the Boston market means there are is still a lot of prime commercial office space available to be leased.”

You can view the BBJ’s list of commercial buildings with the most available office space, here.

Office Listings
Available Office Space in Boston

0 Boston Office Rents Stay Among Country’s Highest in 2015

Boston offices

Credit: Boston Business Journal

Boston Office rents are some of the most expensive nationally and expected to continue upward during 2015.  Vacancy in the city has continued downward with value options within the low rise Class A and Class B in the Financial District.

“The vacancy rate in Boston at the end of the fourth quarter was 13.4 percent, the seventh-lowest rate in the country among the roughly 75 markets Reis examined…The national average was 16.7 percent. Average Boston rents rose 0.2 percentage points during the fourth quarter. Most of the cities saw a small decline. Average rent in Boston at the end of the fourth quarter was $32.42 per square foot — fourth highest in the country,” according to stats presented on the Boston Business Journal.

The full BBJ article can be found, here.