Boston ranked 18th on a listing of the top 30 cities worldwide that attracted commercial real estate investment in 2010-2011, and are expected to continue leading the way over the next decade, according to a recent report from Jones Lang LaSalle (JLL).
According to the report, which was presented at the annual World Economic Forum conference in Davos, Switzerland, recently, more than half of all worldwide commercial real estate investment occurs in the top 30 cities.
New York, Washington, D.C., and Toronto were the only three North American cities to place in the top 10, coming in third, seventh and ninth, respectively. Los Angeles, San Francisco and Chicago all placed higher than Boston, ranking 11th, 13th and 14th on the list, respectively.
North American cities beat out by Boston in attracting commercial real estate investment included Calgary, at number 23, San Diego (25) and Miami (28).
According to JLL, Boston attracted approximately $6 billion in direct commercial real estate investment in 2010-2011, far behind London’s $43 billion, which topped the list. Still, Boston fared better than several larger, European capital cities, including Moscow and Berlin.
The top five cities attractive to direct commercial real estate investment over the past two years were London, Tokyo, New York, Hong Kong and Paris, in that order.
