“If you build it, they will lease.” This seems to be the adage behind Boston’s new skyscraper developments and redevelopments, which will bring over three million square feet of commercial real estate space to the market. Yet the amount of supply in development isn’t expect to glut the Boston Metro with empty office space.
According to Boston Biznow, office demand has been soaring in Boston’s Central Business District. Vacancy rates at the end of 2019 were at 7.1%. The tight market poses a challenge for tenants looking for expansion, and for outside companies looking to call Boston home.
Developers expect Boston’s burgeoning life sciences and technology sectors to absorb much of the available space. Laboratory operations, along with research and development facilities, are growing in Boston. In turn, these enterprises are generating start-up companies while attracting like-minded corporations. All this is possible thanks to our quality institutions of higher education, which are recognized around the world.
These are just a few reasons why Boston enjoys commercial real estate demand from local, national and global enterprises. When it comes to doing business in the Boston Metro, the sky is the limit!
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, leasing, or investing in Boston Metro commercial real estate, we can help you find the ideal property.