Investors turn to Boston office sector
Boston continues to be a strong property market, and investors have been turning to the city for office and healthcare property investments.
Greater Boston has been in economic recovery since 2011, according to JLL. Driven by steady job growth in healthcare and education, and a boost from growing sectors such as technology, finance and life sciences, the metropolitan statistical area has logged a consistent 2 percent year-over-year job growth rate for the past six years.
In 2016 alone, Greater Boston added more than 50,000 new jobs. As a result of this solid, long-term growth, the unemployment rate for the Boston MSA was near historic lows during fourth quarter 2016 at 2.6 percent, the lowest rate of any major metro in the United States. Access to talent will continue to drive real estate decisions for all players in Boston’s tight labor market, reports JLL.
The Boston office market saw several high-profile deals in the first quarter, driven by properties for