Boston Metro commercial real estate market conditions are among some of the best in the nation for investors in 2018, according to a survey by PricewaterhouseCoopers and the Urban Land Institute.
The survey asked industry professionals to rank the best markets for commercial real estate investment, and included 79 large U.S. cities for consideration. Respondents favored Boston as the 7th strongest market for commercial property investment, placing it ahead of Seattle, and close behind Austin.
The top 5 metros for commercial real estate investment in 2018 are Dallas-Fort Worth, New York City, Raleigh, Orlando and Nashville. Texas claimed two positions in the top ten with #1 Dallas-Fort Worth and #6 Austin, partially due to the availability of large tracts of land, and lower associated development costs.
Yet Boston remains an investor favorite for its youthful and highly educated workforce, STEM-related industries, and public-private sector collaboration. According to the Boston Herald, the Boston Metro has about $9.3 billion dollars in new development under construction in 2018.
Overall, the survey indicates that investors are increasingly drawn to high-amenity urban and suburban markets that are served by public transportation. Walkable areas with a mix of residential, office, retail and recreation are commonly sought. Such “live-work-play” communities are found throughout the Boston Metro. And with a growing population that is adding about 10,000 new residents every year, the projection for our 2019 commercial real estate market is equally upbeat!
The Boston Metro offers many quality choices for commercial real estate! When you are ready to begin, relocate or expand your business, team up with the Jay Nuss Realty Group, LLC!
Whether you are thinking of buying or leasing Boston Metro commercial real estate, we can help you find the ideal property. Contact us today for expert guidance!