The final Beige Book of the year has been released. Overall, it appears that activity is on the rise in our area and is expected to continue into the New Year. Retailers and manufacturers are, in general, reporting increases in sales or revenue, and there are increases in hiring in some sectors. Here are the highlights of the report pertaining to the Boston Metro area:
- Commercial real estate market trends in the Boston area remain mostly steady since the last report, continuing to follow an upward trend
- The office market in the Boston area continues to see modest rent increases and declining vacancy rates
- There is still high demand for office and multifamily investment properties
- An increase in loan demand has been noted for industrial properties in the Boston area
- Hiring is on the rise in sectors with high demand
- Year-over-year increases in sales or revenue have been reported in the manufacturing and retail sectors
What does all of this mean for the future of commercial real estate in the Boston Metro area? The upward trends seen throughout 2014 bode well for the area in the coming year. It appears that the Boston Metro area will remain an ideal location for business owners and investors alike. It will be interesting to see the effects of the growth that is likely to continue into 2015.
If you or someone you know is looking to begin or relocate your business in the Boston Metro area, please contact us! Our knowledge of the many excellent locations in the area will help you find your ideal space.