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Boston, MA | 2015 Top #CRE Markets to Watch: Office

Sperry Van Ness International Corporation’s (SVNIC) 2015 Market Update Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2015. Today we are delving into the 2015 Top Office Markets to Watch. Not the largest or the most actively contested markets, the 2015 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Office Market to Watch: Boston, MA

Boston: 2015 Office Markets to WatchBy almost any measure, 2014 was a banner year for the Boston office market. Overall vacancy in the Boston metro area dropped to its lowest level since the dot-com boom. Asking rents in East Cambridge reached all-time record highs, with biotech companies and tech giants competing for space near the academic heart of the submarket. Across the metro area, asking rents in the office sector increased by just over 10% during 2014, and are on track for a comparable result in 2015. Contrasting its peer markets, leasing and rent growth was particularly strong in the suburban submarkets.

Boston has nearly 5 million square feet of office space under construction, but a significant share of those projects are single-tenant build-to-suit. In the multi-tenant market, the current balance of supply and demand echoes the frenzied pace of leasing in San Francisco’s office market. For small- and mid-cap investors making price comparisons with Manhattan and San Francisco, Boston offers investors comparatively cheap opportunities with average cap rates in the upper-end of the 5.5% to 6.0% range.

To read more on Boston and other top office markets, download the full version of the 2015 Office Market Update report here.

2015 Office Market Outlook

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisors with more than 180 locations in 200 markets.

Boston, MA | 2014 Top CRE Markets to Watch : Apartment

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Apartment Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Apartment Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP APARTMENT MARKET TO WATCH : Boston, Massachusetts

BostonBoston’s position as a top multifamily investment market (just behind New York and San Francisco) has pushed asset pricing to record highs and made construction an attractive alternative for investors. Local builders and institutional developers from around the country are cranking out new multifamily product here at the rate of about 4,000 units per year. That is well behind the pace of new household formation, which will be nearer to 7,000 annually over the next several years here. A falling vacancy rate, currently near 4 percent, has sparked spectacular rent growth of 20 percent or more over the past five years, although rents may plateau as new projects deliver large blocks of space and add vacancy. Much of the new construction is taking the form of large urban towers, answering the demands of well-paid, highly educated young knowledge workers attracted to Boston’s 24-hour culture.

To read more on Boston, and other top office markets, download the full version of the Top Apartment Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

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