FALL MARKET CARRYING STRONG MOMENTUM
Greater Boston’s market showed no signs of weakening during the third quarter by recording strong growth from numerous industry types. The market continued receiving inbound demand as well as converting organic growth into significant expansion. Most notably, Oath’s (Verizon) commitment to nearly 440,000 square feet at the Hub on Causeway and Boeing’s new 100,000 square foot requirement for an automated-flight center in Cambridge exemplify the market’s strength and tenant diversity.
The region’s demographics and economy have remained solid helping to support and promote Boston’s recent expansion. Firmly rooted in education, technology and life sciences, Boston’s diverse economic base has submitted strong job growth through increased recruitment and skilled labor retention from the area’s leading universities and institutions. Looking forward, expect durable market conditions and a diversified economy to guide the region’s commercial real estate market to a strong performance over the next several years.