Regional Summaries

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Boston, MA

The 223,270-unit metro Boston multi-tenant, investment grade apartment market was in balance in 2017, as a big year for new supply was more than enough to offset continued strong demand. Asking rent gains were large, but concessions softened the blow for tenants. Reis reports a vacancy rate of 4.9% for the fourth quarter of 2017, up 20 basis points during the year and up 30 during the fourth quarter alone. Last year was mixed with regard to rent for metro BostonÂ’s landlords and its beleaguered tenants. The average asking rent increased 4.0% over the year to $2,246 per month, faster than the 3.7% increase in household average income, but the average effective rent increased just 3.3% to $2,126 per month, slower than the increase in income. During the fourth quarter, moreover, average rents actually fell by 0.1% and 0.2%, respectively, the second consecutive year that rents have fallen during the fourth quarter. VIEW APARTMENT LISTINGS >
Reis reports a fourth quarter 2017 market vacancy rate of just 7.8% for warehouse/distribution space in metro Boston, down 110 basis points over the year and down 10 basis points during the quarter. The fourth quarter vacancy rate for metro Boston Flex/R&D space is 11.1%, also down 110 basis points over the year but up 10 for the quarter alone. Industrial rent gains continue to accelerate in metro Boston. For warehouse/distribution space, the average asking rent was up 2.9% during 2017 to $6.85 psf, with the average effective rent up 3.5% to $5.92 psf. The fourth quarter gains were 0.6% and 0.7%, respectively. Metro BostonÂ’s Flex/R&D average asking rent increased 3.0% over the year and 0.5% during the fourth quarter to $13.19 psf, with the average effective rent up 3.4% over 12 months and 0.7% over three months to $11.32 psf. VIEW INDUSTRIAL LISTINGS >
Metro BostonÂ’s 131.7-million-square-foot general purpose, multi-tenant office market had a mixed year in 2017, with rising vacancy but solid gains in average rents. The vacancy rate is 12.9% as of the fourth quarter of 2017, according to Reis, up 40 basis points during the year but down 10 during the fourth quarter. During 2017, according to Reis, both the average asking rent and the average effective rent increased 3.5%, to $43.06 psf and $35.95 psf. The large gap between the two measures shows that concessions remain large in this market. The fourth quarter increases were 0.8% asking and 0.9% effective, with similar increases recorded in each of the yearÂ’s prior quarters. VIEW OFFICE LISTINGS >
Metro Boston retail is not suffering the sort of distress now found in many parts of the U.S. The 37.2-million-square-foot community-neighborhood shopping center market vacancy rate ended 2017 at 6.4%, according to Reis. That fourth quarter rate was down 20 basis points during the year and down 10 from the prior quarter. In 2017, the average asking rent increased just 0.3% to $23.79 psf, with the average effective rent up just 0.4% to $21.56 psf. Rents had been down slightly year-to-date before an increase of 0.5% by both measures during the fourth quarter. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

CBC NRT NNN Investment Report

This is a market report that Coldwell Banker Commercial NRT prepared for the CBC Global Conference. This report provides the 2018 forecast of net-lease properties and details why NNN properties remain well-positioned for continued success and growth in the coming months.

The U.S. Gulf Coast & Its Vital Interstate-10 Corridor

CBC Infographics

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The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

Commercial Real Estate & Technology: The Generational Divide

Infographic that addresses how each generation sees aspects like the adoption, use and importance of technology. Ultimately, each generations’ concerns come down to the impact that new technology will have on the industry.

The Growing Value of Digital Tools

Which digital tools do commercial real estate professionals value most, and what devices are they using to access them, and how are these professionals’ technology habits likely to change in the years to come?

Workers Prefer Dynamic and Efficient Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, a recent Coldwell Banker Commercial Affiliates survey found that the physical office itself could keep staff happier.

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