Commercial real estate in the Boston Metro area is maintaining a positive outlook, according to the latest Beige Book report. The Beige Book report is a great way to gain an inside perspective on the state of the commercial real estate market. If the thought of reading through the report makes your eyes glaze over, don’t worry! We’ve done the research on the latest report and have the highlights for you here.
- Rents on prime retail properties in the Boston area are continuing to climb
- Office rents are holding steady, and climbing in some areas
- Overall economic activity in the Boston Metro area is increasing
- Borrowing rates and capitalization rates on commercial properties are holding steady
- Office vacancy rates are continuing to decline
- The outlook for the rest of 2013 indicates continued slow improvement for the commercial real estate market
It is expected that the demand for commercial space will continue to grow, if slowly, for the remainder of the year. If you are preparing to expand or relocate your office, or are in need of commercial space for your new business, we would be happy to help you! We specialize in representing small to medium sized companies requiring new space.
You can rely on our extensive knowledge of the Boston Metro Area commercial leasing market to guide you through the entire search, enabling you to make the move with ease. Please contact us today to find the right space for your business needs!
Jay Nuss Realty Group, LLC
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