Boston: Driving to new heights

See why Boston is leading the charge on a national stage.

Why Boston’s CBD is ideally positioned to see out the end of the cycle

Low vacancy and a limited pipeline coupled with one of the most diversified workforces in America make Boston’s central business district office market unique.
Julia Georgules
Director of Research, East and Canada
“A fellow researcher who has since gone on to work in a public policy think tank at Harvard recently told me that the man who started the research group there could have done it in the Bay Area or he could have done it here, and he said he couldn’t get the expertise or talent he needed in the Bay Area. We have some incredible centers of excellence, but I think sometimes we fly under the radar compared to San Francisco. The thing is, that the innovations happening here at places like MIT and the Broad Institute are being built over a lifetime. That is reflective of the culture we have here. It’s an older market that’s very established and focused on planting roots. That results in a different kind of long-term innovation, and what that does for investors is create an environment of slow and steady growth.”

- Julia Georgules, JLL New England, Research Director
Ben Heller
Managing Director, Brokerage
There’s an opportunity to hire the brightest and most innovative thinking people here. I think for a while we took all of the institutions we have here for granted. But now, the talent from those schools is staying here and we’re seeing an influx of talent that wants to be here that otherwise has no connection to the city.”

- Ben Heller, JLL Downtown Boston, Brokerage Lead
Frank Petz
Managing Director
“We’ve got it all. One of the key drivers of our economy today is our workforce. We produce brainpower. In fact, we are the world’s biggest manufacturing center for intellectual capital, delivering that in an environment that is diverse with respect to industries, balanced with respect to supply, and complemented by an incredibly high quality of life. And, the more growth we see, the more talent we gain, which fuels a virtuous cycle. The real question is, why not Boston?”

- Frank Petz, Managing Director, JLL New England Capital Markets

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Rent and value growth: Where do we go from here?

Boston is one of the most dynamic markets in not only the country but the world. And yet, we are still relatively “cheap” when it comes to rents.


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