Real Estate Boston is part of the Forum LOCAL series of features in Real Estate Forum magazine. This is an HTML version of an article that ran in Real Estate Forum. To see the story in its original format, click here.
Industry watchers are using convincing words to describe the state of Boston's CRE market—words like “blessed,” “extremely strong,” “very competitive” and “acceleration.” All signs point to more growth in Beantown in quarters ahead.
Consider the baseline statistics. Boston has added about 158,000 new jobs since 2009, bringing unemployment down to 4.5%, according to Cushman & Wakefield. The New England metro's technology sector has been a strong driver, with 11.9% growth over the past few years creating 27,000 new jobs. At 9.4%, Boston's CBD vacancy rate is among the lowest of major US metros. Add to that a diverse industry base and it's not difficult to discern what makes Boston's commercial real estate sector tick.
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