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Boston Offices Hitting Peak Numbers

WASHINGTON DC 03.16.2017

CAPITAL MARKETS AND REAL ESTATE FINANCE

Investing in 2017, Hot Markets, and the Ever-Changing Capital Stack

Mark Hertz -- AIG Global Real Estate
Sujan Patel -- Colony NorthStar
Joe Carter -- Wells Fargo
Boston Offices Hitting Peak Numbers

With employment at a 14-year high, and the Boston metro firmly on the radar screens of institutional investors, look for 2015 investment sales to match prior bests, says JLL New England research manager Lisa Strope. Sales for Greater Boston totaled $9B, the millennium's best years after '06 ($10.8B) and ’07 ($11.B). Last year, rents ramped up to $56.65 for Class-A offices in Boston's CBD (a 12.2% rise from a year ago) and hit a high of $57.78 in the Seaport. The city’s overall vacancy rate was 10.3%, with the Seaport turning in the best performance at 7% for all classes of space.