The Business Monitor International upgraded their 2014 real GDP growth forecast from 2.7% to 2.8% with growth set to average 2.4% per year from 2013-2018. Our economy is recovering.
With a growing external trade demand from the key US trade partners, including Canada, Mexico and the United Kingdom, both the industrial and office segments in commercial real estate market are under the ongoing support. And the entire CRE market is in a good spot, where not only the US job creation is improved, but also the immigrant investment power from overseas is active and determined.
As the significant technological innovation canter on the east coast, Boston provides a better business environment for entrepreneurial activity, with a highly educated and flexible labor force, business-friendly legal system, and the strong research and innovation support from world-known universities such as Harvard and MIT. ABG Commercial Advisors believe that the retail and office space for either lease or sale in Boston, especially Cambridge and Somerville areas, will be under great demand in 2014.
IF you are considering starting your business in the Boston area, please be in touch with us. Look at some properties now by going to www.abgcommercial.com.
Reference: Business Monitor International. United States Real Estate Report Q2 2014