Monthly Archives: November 2012

Blue sky

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Barry Bluestone, economist and dean of the School of Public Policy and Urban Affairs at Northeastern University, has the answer for getting the recession behind us. Fix the housing market and you fix the economy.

This is how Bluestone opened his economic overview at yesterday’s NAIOP/SIOR Annual Market Forecast. “If the White House and Congress can agree to temporarily raise the tax rate… Read More

Categories: Topics.

The transformation of first class office buildings

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From Steve Wassersug
Managing Director
Jones Lang LaSalle

Despite the fiscal cliff, there are a number of capital improvement programs recently completed or underway in Downtown Boston and Cambridge. Among them are 99 High in the Financial District, and One Rogers Street in Cambridge. Here is an quick look at both.

As construction manager/general contractor, Jones Lang LaSalle Construction has completed construction on behalf… Read More

Categories: Topics.

Boston positioned for accelerated recovery

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From Lori Mabardi
Research Manager
Jones Lang LaSalle

The US presidential election itself doesn’t clear the air of economic uncertainty. We have reasonable confidence that some or all of the fiscal cliff may be averted. The Euro crisis may, according to our Research team’s recent 2013 National Commercial Real Estate Outlook, get worse before it gets better. This will continue to drag on… Read More

Categories: Topics.

Chart of the week

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Both Boston and Cambridge have well surpassed the 10% affordable goal. This suggests little to no room for residential developers to obtain the required zoning permits through the 40B expedition process.

The 128/Mass Pike and North submarkets present fertile ground for residential developers given the close proximity and easy access to downtown,… Read More

Categories: Topics.

Chart of the week

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The construction sector was one of the hardest hit in the Great Recession. Boston construction employment growth of over a decade was wiped out in just a few years.

Despite major job losses, future growth is on the horizon. To date, approximately 50% of the 10,000 construction jobs that were lost in this recession have… Read More

Categories: Topics.

A downtown dynamic

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The dynamic of the Financial District is changing. With leases recently signed in the low rise, the vacancy rate could drop to a very solid 10.7% by end of year. That is down from 16% a year ago.

“It’s reached an inflection point” according to Jones Lang LaSalle Research Manager Lori Mabardi.

Our expanded Boston Skyline Review, the third in a family of Jones Lang… Read More

Categories: Topics.

Chart of the week

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Consumer confidence here in Massachusetts is higher than the US average for the first time since the early 1990’s.

This recession was kinder to Boston than previous ones. Still, consumer confidence has room to grow to return to healthy levels again.

Recent employment data suggests that the Boston rate of growth may be slowing. That being… Read More

Categories: Topics.

Honoring our own

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This morning’s United Way Real Estate and Building Industry Breakfast was particularly poignant for those of us at Jones Lang LaSalle. Our former colleagues the late Hank Spaulding, and Polly Bryson were honored with the 2012 Norman B. Leventhal/Edwin N. Sidman Real Estate and Building Industry Leadership Award. The late George Slye was also recognized in a very special tribute.

Together Hank and… Read More

Categories: Topics.