As Thanksgiving approaches, things are very different from last year — the understatement of the year. But the commercial real estate community has plenty to be thankful for, including:
- Record venture capital spending, $13.6 billion invested in Massachusetts this year, per Crunchbase.
- Strong IPO activity. Twenty-seven companies have gone public in 2020, nine more than in 2019.
- Moderna is at the forefront of a COVID-19 vaccine. Our healthy and growing life science industry is a unique strength.
- Seven universities here ranked in the top 50 in the U.S., per U.S. News and World Report.
- Boston leads the nation in NIH funding year after year after year and received $2.2 billion in FY2019. The state received $3 billion.
- The local and national debt markets are alive and well, offering investors historically low interest rates.
- Investors continue to chase land deals, emphasizing their faith in the market’s recovery.
- Industrial hasn’t missed a beat, with strong e-commerce, last–mile distribution, GMP manufacturing, and local/regional demand pushing year-to-date absorption of 1.8 million SF.
- Life science demand is positive, reaching 700,000 SF of year-to-date growth, with recent deals suggesting that nothing is slowing in the fourth quarter.
- Subleases have created tremendous value options for office tenants in the city.
In light of that good news, we wish you and yours a safe and happy Thanksgiving.