Embracing Sustainability Offers a Solution to Boston’s Office and Housing Crises
There is a clear opportunity to embrace sustainability strategies while reconfiguring Boston’s building stock for a more sustainable future.
There is a clear opportunity to embrace sustainability strategies while reconfiguring Boston’s building stock for a more sustainable future.
New hotel construction has slowed to a crawl in Boston since COVID but a new source of room supply is emerging in conversions spurred by the city’s struggling office market.
At City Realty, we have seen firsthand that there are still opportunities available in the office market and new tenants in the market to fill those well publicized vacancies. Our successful repositioning project in Quincy Center is just one example.
2024 promises to be a year of reckoning for many Boston-area commercial property owners as rising vacancies and expiring mortgages threaten their once-lucrative business plans.
Asking rents for class B office properties in Boston declined by double digits while availability rates hit near-record highs of 22.3 percent.