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Office Highlights

United States | Boston, MA

Report | Boston Office Highlights - Q1 2011

Summary

The local economy outperformed the U.S. as both private sector and total nonfarm employment continued to grow. The Greater Boston metro area has experienced seven consecutive months of employment gains.
A traditional strong push to close deals in the fourth quarter of 2010 reduced the demand pipeline for the first quarter of the year. Therefore, overall transaction volume was low to start the year, but the market recorded its fifth consecutive quarter of positive absorption. The outlook for the remainder of 2011 is for local, organic growth and leasing activity driven by renewals with some expansion.
The pace of investment sales activity continues to accelerate as investors aggressively compete for assets in one of the strongest gateway markets in the US.

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