Boston Office Landlords Bet on Spec Suites
Overall office requirements in Greater Boston are pushing past 3.5 million square feet. Many of them are on the hunt for a flexible, seamless solution in the market: spec suites.
Greater Boston Office Availability Rate Tops 20 Percent
Greater Boston’s office availability rate reached a record high of 20.2 percent at the midyear mark after another declining quarter for leasing activity and uptick in sublease space.
An Office Titan Faces a Philosophical Question
Boston Properties, our hometown real estate giant, recently found itself confronted with a question that would have been unthinkable before the watershed year of 2020.
WeWork Seeks to Drop One Lincoln Lease
One Lincoln owner Fortis Property Group faces another big office vacancy to fill if a bankruptcy court approves WeWork’s motion to reject the lease on its 241,000-square-foot coworking center.
Boston Office Rents Drop 10 Percent from Peak
Office vacancies in Boston rose slightly in the first quarter, and a wave of expiring leases in coming months will provide hints at the future direction of the market.
Amid CRE Tax Rate Hike, Should Boston Be Tightening Its Belt?
Only days after announcing a plan to seek state approval to raise property tax rates on commercial property owners, Boston Mayor Michelle Wu filed a $4.6 billion budget plan for 2025 that would hike city spending by 8 percent, or $344 million.
Wu Begins Talks With Lawmakers on Tax Bill
The mayor’s proposal would allow the city to lessen increases in residential property tax bills by temporarily levying that increased tax on commercial real estate for up to five years.
Office Woes Threaten Boston Budget With ‘Economic Act of God’
Warning about the prospect of a “permanently diminished city,” think tank analysts said a sharp and steady drop in the value of office buildings could soon punch a hole in the city’s budget, endangering resources for schools, first responders and more.
Two More Years of Declines Seen for Boston Office Market
Persistence of the hybrid work model is expected to translate into continuing declines in office occupancy and rents across the U.S.
More Slippage for Boston Office Market in Q4
Leasing activity remained in the doldrums at the end of 2023, contributing to another uptick in Boston office vacancies.
S&P: U.S. Banks Will Still ‘Perform Well’ Amid Slow Economy
S&P Global Ratings is expecting that American banks will still perform well this year and build capital as they face a slowed economy and tighter regulatory landscape in 2024.
WeWork Bankruptcy Hits High-End Buildings in Boston
WeWork’s bankruptcy adds a new stress point to Boston’s Class A office sector already struggling to adapt to elevated vacancies and uncertain future demand.
Boston Office Rents Keep Sliding Despite Demand Bounce
Over the past 12 months, office tenants’ active space requirements have increased nearly 26 percent, according to new JLL research.
Boston Office Vacancies Crept Higher in Q2
As Boston prepares to offer incentives for office-to-residential conversions, a new report confirmed still-rising vacancies in the city’s office stock.
Mass. Companies Plan More Real Estate Cutbacks
Nearly half of the respondents to an industry survey said they will reduce their Massachusetts real estate footprint in the next two years, adding pressure on the local commercial real estate market already hit with double-digit vacancies and record sublease listings.
Office Tenants Predict More Downsizing to Come
A majority of office tenants expect to shrink their space footprints further in the next three years, according to a CBRE report analyzing future demand in the office market.
Banker & Tradesman’s Editorial Cartoon: Shedding Some Dead Weight
A meeting about an office tenant’s future space requirements goes awry.
Full Floors of Fun at Boston Towers
Hundreds of millions of dollars of renovation and repositioning projects planned downtown could leave Boston’s best office towers stronger than ever despite office market upheaval.
Job Cuts in Tech Sector Spread with 10K Microsoft Layoffs
Microsoft is cutting 10,000 workers, almost 5 percent of its workforce, joining other tech companies that have scaled back their pandemic-era expansions.
Rents Dip Again at Downtown Office Properties
Asking rents declined at downtown Boston office properties as the availability rate approached 20 percent at the end of 2022, the highest level in two decades.
