The Boston Metro area holds competitive advantages over other cities, according to commercial real estate analysts at Bisnow. These advantages suggest that the Boston Metro commercial real estate boom is far from over! Here are some of the highlights from Bisnow, along with our own points:
1. Boston is highly adaptable to change. While many U.S. cities suffered from globalization, the Great Recession and other economic impacts, Boston has proven itself to be resilient and innovative. Our highly-regarded universities draw the best and brightest, who in turn attract dynamic employers to the region.
2. Boston has multiple economic strengths. Our diverse economy includes healthcare and life sciences, financial and professional services, technology companies and more. This enables us to weather industry shifts better than cities with fewer economic drivers.
3. Boston attracts capital investment from around the nation and the world. Inman News reports that Boston has 14 million square feet of construction underway, consisting of 83 major projects totaling 7 billion dollars. Since 2015, investors have poured 3.1 billion dollars into the Boston skyline alone.
4. There are things worse than snow. New England winters are challenging, but we are not prone to earthquakes, hurricanes, mudslides, tornadoes or wildfires.
5. You can get virtually anywhere from Boston. Logan International offers multiple global destinations with an impressive list of nonstop flights. Boston is truly a global city, attracting students, tourists and investors from around the world – and they can get here relatively easily.
Of course, Boston has some challenges, such the rising cost of housing. But overall, industry analysts see the future of Boston Metro commercial real estate in a positive light.
Ready to begin, relocate or expand your business? Team up with an experienced commercial real estate broker at 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. Please contact us today for expert guidance!