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Office Market Worries
Office Market Worries
In the Q3 Korpacz Real Estate Investor Survey, Boston's office market presents a mixed picture. We spoke with survey editor Susan Smith Friday, and she noted one major problem: job growth is not in office-using sectors. Rather, it's coming from higher education, medical, and biotech. Susan stresses that ?job growth propels everything that happens in the office sector? and eventually, in the entire economy. Even though Boston office vacancy is better than the country as a whole, tenants here have the upper hand. That makes some investors eager to exit the Hub. On the plus side, others are interested in Boston because those very institutions produce a smart, innovative workforce in a city, which has good transportation and a high quality of life, she notes.