The latest Beige Book report is out, and is revealing a positive outlook for Boston Metro area commercial real estate. No time to read the full report? We’ve got the highlights covered for you here.
- Office property rents are beginning to increase due to strong demand and lack of new office construction
- Office leasing activity is strong in the Boston suburbs
- Demand for commercial real estate in Boston is strong, particularly from foreign buyers
- Travel related spending is up in the Boston Metro area, leading to an increase in hotel occupancy rates
- Commercial construction activity is holding at a steady, high level
- Commercial real estate fundamentals are generally steady or improving across the Boston Metro area
With only one Beige Book report left for the 2014 year, it appears that commercial real estate fundamentals in the Boston Metro area will continue to hold steady or improve. As we near the end of the year, it will be interesting to examine predictions for what may be in store for our area in 2015.
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