How Boston Developers, Brokers Are Handling The Office Market’s ‘Paradigm Shift’ The Boston office market has changed dramatically in the last three years, with developers and brokers being forced to shift the way they do business. While new office towers like One Congress and Winthrop Center have come on the market and attracted tenants, landlords with older buildings are struggling to find new ways to lease up space and have had to get creative. And as construction costs continue to rise, some developers are having a hard time building more of the new product that office users want. Leasing strategies have also changed, as tenants are taking smaller spaces and are looking for best-in-class offices with newer amenities, driving competition among owners, some of Boston's most prominent landlords and brokers said Tuesday at Bisnow’s Boston Office: Navigating the Changing Landscape event at Rowes Wharf.
“There has never been a time in my 37 years doing this where you just have to be excellent. You can't not be excellent [in today's market]," said John Boyle, executive vice president at Cushman & Wakefield.Boyle said that demand in the market… Read the full story here. |