High-Tech Industry Growth Powers Strong Rent Increases in Boston Over Past Two Years

CBRE’s latest research report, U.S. Tech-Twenty: Measuring Office Market Impact, tracks high-tech employment and office market conditions in 20 tech-oriented office markets across the U.S., including Boston, and found a strong correlation between high-tech job growth and accelerating office rents. From Q2 2012 to Q2 2014, Boston experienced 15.7% growth in high-tech jobs, while office rents grew by 11.2% during the same period.

“The Boston market continues to evolve as a hub for innovative high-tech companies seeking value and access to 24/7 amenities,” added Kevin Kennedy, First Vice President of the Urban Brokerage group in Boston and member of the CBRE Technology & Media Practice with a focus on New England. “Co-working/incubator companies are continuing to expand, indicating growing support of high-tech companies who desire to be in the Seaport District and CBD, in addition to Cambridge.”

The full report and its local market summary pages can be accessed here.

 

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