When it comes to office fundamentals, Boston truly continues to shine, keeping a leading development pipeline nationally, stable sales and vacancy rates. Yet, the metro did not remain immune to the current economic environment. As construction costs remain high and the life science sector is slowing, landlords now rely less on rent cuts and more on creative incentives, Hunneman’s Executive Vice President & Managing Principal, Peter Evans, points out in today’s episode of Step Into My Office.
From the Back Bay’s resilience, the struggles of Class B space and the rise of amenity-rich trophy towers, Evans explains how Boston’s market is stabilizing and why the next year might be more about finding balance than a rebound. We explore the playbook that supports deals today, which tenants are opting for flex office and debunk some myths around the “flight to quality” movement that took over the office market.
Here’s what we discussed about: