Mark Your Calendar
Holiday Decorating for Heading Home
Join the Developing Leader Committee in spreading some holiday cheer by helping to decorate the outside of two Heading Home shelters. Once the decorations are up, warm up with a networking happy hour with the other volunteers. (Location to be provided to registrants the week before).
The ticket cost will go towards funding event related expenses.
December 2 | 3:00 - 6:00 PM
NAIOP/SIOR Annual Market Forecast & Annual Meeting
Join NAIOP virtually for its Annual Market Forecast. We'll hear from a panel of Greater Boston's leading real estate experts who will present an analysis of the Massachusetts commercial sectors, with a special focus on office, lab, industrial and capital markets. Panelists will discuss emerging trends in specific markets, new growth areas and a general outlook for the future of CRE.
Before the program, NAIOP Massachusetts and the Board of Directors will present a brief year-end Annual Meeting to induct the 2022 NAIOP Leadership. NAIOP's Chapter Awards will also be presented.
December 3 | 12:00 - 1:15 PM ET
Feature Blog Posts
Lab, Life Science Space Will Only Drive Our Recovery If Nurtured
The demand for lab and life science space is driving construction all over the commonwealth, and there’s no slowdown on the horizon. Existing vacancies in Boston are at 1.1 percent and the larger market is hovering at 2.5 percent. This lack of supply has caused pricing to skyrocket where other sectors of commercial real estate have stalled. As one example, rents in Watertown hit levels comparable to Kendall Square’s pre-pandemic rents earlier this year. While new construction and lab conversions are up, prices remain high, as demand continues to exceed supply. The majority of new space coming online in 2022 is already committed.
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Opinion: The Future of Work Report Misses the Mark
But there is a big miss in McKinsey’s report. It’s no secret that office space was hard hit by the pandemic — walking in downtown Boston for the past year has been more akin to walking in a ghost town. But McKinsey’s topline conclusion that the demand for office real estate may fall as workers spend more time in residential areas due to hybrid work, uses employer and employee data from before vaccines were available to everyone, and conflates a hybrid work-schedule with the need for less physical space.
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Optimism and Recovery Expected for CRE in Second Half of 2021
While certain sectors are leading the way and others are still catching up, the overall projections for the market are optimistic. Just like in 2008, the Greater Boston market’s access to talent, driven by the many top-tier colleges and universities, is our greatest competitive advantage.
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Corporate Members
