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Boston Office Pipeline: From Empty to Booming

BOSTON-Still to come are four new MXDs totaling more than 11 million square feet, led by HYM's Northpoint, with office comprising about one-third the total.

By Paul Bubny | Updated on July 12, 2013

BOSTON-Industry research puts the office sector in New England’s largest city among the biggest success stories of the CRE recovery. CBRE says the city ended the second quarter with a vacancy rate of 12.1%—only New York City, San Francisco and Houston are lower—while Richards Barry Joyce & Partners reported it at 14.1% for Greater Boston, the lowest level in five years.

However, an even more dramatic turnaround has occurred in new construction. At 3.2 million square feet, Greater Boston’s office construction pipeline is at its highest level in a decade and looks especially healthy by comparison to 2011, when it stood at just 200,000 square feet.

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