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Boston Commercial Real Estate In-depth

Boston is the capital and largest city in Massachusetts. Boston is considered the economic and cultural center of the entire New England region. With a strong economy, safe streets and a diverse workforce, Boston commercial real estate is one of the reasons this city is poised for continued success in fostering new enterprise throughou...

Boston Commercial Real Estate In-depth

Boston is the capital and largest city in Massachusetts. Boston is considered the economic and cultural center of the entire New England region. With a strong economy, safe streets and a diverse workforce, Boston commercial real estate is one of the reasons this city is poised for continued success in fostering new enterprise throughout the city. Increasingly, companies are discovering new commercial real estate opportunities in urban neighborhoods where density of purchasing power, investment in new infrastructure and access to employees form a framework for growth.

Boston’s colleges and universities have a major impact on the economy. They are major employers and also attract high-tech industries to relocate with Boston commercial real estate. Computer hardware and software companies as well as biotechnology companies are also finding homes with Boston commercial real estate. Boston also receives the highest amount of annual funding from the National Institutes of Health of all cities in the United States.

Boston has experienced an ongoing economic recovery, with increased employment rates, improvement in the office market, strong sales, and tremendous gains in residential real estate. Many industries are regaining ground with Boston commercial real estate; especially in tourism.

Boston is one of the country's top 10 tourist attractions, focusing on the city's 62 historic sites, its nearly 2,000 restaurants, and its hundreds of hotels. Tourism is a year-round industry in Boston, which hosted 16.3 million visitors in 2004, spending $7.9 billion, making Boston one of the ten most popular tourist locations in the country. Other important industries that use commercial real estate in Boston for their homes include financial services, especially mutual funds and insurance. Boston-based Fidelity Investments helped popularize the mutual fund in the 1980s, and has made Boston one of the top financial cities in the United States. Boston commercial real estate also provides the regional headquarters of major banks such as Bank of America and Sovereign Bank, and a center for venture capital. State Street Corporation, which specializes in asset management and custody services, is headquartered in the city. Boston is also a printing and publishing center – Houghton Mifflin is headquartered within the city, along with Bedford-St. Martin's Press, Beacon Press, and Little, Brown and Company.
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