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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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The Rubber Meets the Road with Realities of Resilient Reentry

Last year was a pivotal time for commercial real estate across Massachusetts, and while 2021 is showing promise, there is a long way to go before we get back to pre-pandemic market stability and growth. In addition to the vaccine rollout there are a few critical components to the successful and resilient reopening of the economy.

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COVID-19 Update: Baker-Polito Administration Moves Forward with Transition to Phase 4, Step 1

Today, Governor Baker announced new statewide restrictions designed to curb the recent spike in COVID-19 cases in Massachusetts. These restrictions will go into effect starting Saturday, December 26 and be in place for at least 2 weeks. It is the goal of the Baker-Polito Administration to keep these measures temporary, but extensions may be required based on public health data.

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