The Downtown Boston office market playing field is changing dramatically. The ownership mix is shifting. Tech-based companies are migrating from the Seaport, Cambridge and the inner suburbs in record numbers. Ryan Enright, the latest addition to our fast growing Downtown Brokerage team, shares his insight into this volatility.
“There’s a lot of turbulence right now,” he said. “A tremendous amount of international capital is coming into Boston. These investors are teaming up with local partners. Oxford is now a major player here controlling over 9% of the Class A CBD.
“They have come in with a strong business model, commitment to Boston, and long-term perspective,” he continued. “They’ll rely heavily on third party brokers with a deep knowledge of the markets.
“At the same time, growing tenants are looking for service providers that ‘get it.’ You have to be able to speak their language and understand their culture. Think like they do. These companies are on a rapid upward trajectory and you must be on the same wavelength.”
JLL is ramping up for these rapid changes with an increasingly strong Downtown presence.