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United States | Boston, MA

Report | Boston Office Insight - Q2 2016

Summary

Market fundamentals across Boston remain strong as unemployment numbers hit new lows. As of Q2 2016, the local unemployment rate is now just 4.0 percent—the lowest since 2001.

High-tech remains the main driver for new growth in the professional and business services sector, with local tech growth likely to outpace broader U.S. tech industry growth.

In the first half of 2016 alone, 2.2 million square feet of new construction was delivered across Greater Boston—with nearly 75 percent of that pre-leased (as of Q2). Absorption numbers are now closing in on 2015 levels.

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