Reasons Why Boston Is One of the Top Commercial Real Estate Markets
Boston is a bustling and growing city with a unique economy that draws buyers, renters, and businesses from around the world. That’s why investing in Boston commercial real estate has long been a solid investment. Here’s a look at a few reasons why Boston is one of the top commercial real estate markets.
Vacancy Rates are Low
As we mentioned in our blog post on Boston office space vacancy rates, vacancy rates are fairly constant from year to year. In fact, it is very low compared to other major cities. This allows Boston CRE landlords to demand higher rental rates and therefore improve profitability for rental properties.
Excellent Public Transportation System
Transportation in and around the city is abundant and diverse. From rental bikes to buses, an intricate subway system, and extensive commuter rail lines, those who live and work in the city have many alternatives to choose from. While traffic may slow be slow going, like most other cities, the other transportation options offered allow the city to thrive.
Tech Capital of New England
The technology sector dominates global markets and Boston has earned the attention of some of the biggest names in the industry. Commercial real estate investors benefit whether owning the buildings these businesses occupy or owning residential property demanded by their workforce. Technology and growth attract and retain hi-tech Boston businesses.
Potential for Growth
With any type of investment, growth is a primary factor. Historically, the Boston market has shown consistent and continually growth in almost all respects. Much of this revolves around the city and the state’s commitment to improving infrastructure and embracing technology and education.
Availability of Skilled Labor
Just within the Metropolitan Boston area, there are 49 colleges and universities. They attract students from across the world. This produces a wealth of talent that attracts businesses to the area. It also contributes to demand in the residential real estate market which, in turn, empowers the commercial real estate market.
A Summary of Reasons Why Boston is a Top CRE Market
Few cities have such a well-balanced offering of services, infrastructure, talent, and corporate and living environment as Boston. Add to this its historical significance and culture and it’s no surprise that Boston is one of the top commercial real estate markets in the country. If you are interested in investing in commercial real estate in Boston, contact us to schedule a consultation. As Boston locals, we are experts in everything that you need to know about investing in Boston.