2017 was an exciting year once again for the Greater Boston region, commercial real estate industry, and all of us here at JLL. As we look ahead to an even better 2018, we wanted to quickly reflect on some of the biggest stories of the year:
1) New year, same story: Boston remains the leader in life sciences
Greater Boston was once again ranked #1 in the US in our JLL Life Sciences Outlook thanks to a variety of factors including access to top talent and world class institutions.
2) Boston’s momentum on par with world’s leading cities
For the third straight year, Boston was ranked as one of the top 10 cities globally in our JLL Cities Momentum Index, coming in at 9th in the world and 3rd in the US.
3) How technology is disrupting CRE in a good way
The industry has come a long way in embracing the latest and greatest technologies. From 3D tours to drones, more real estate technology was adopted in 2017 than ever before.
4) The Seaport: Boston’s next life sciences frontier
The Seaport continued to position itself as one of the area’s most highly sought after submarkets in 2017, and further solidified itself as a viable option to Cambridge.
5) At JLL, we achieve ambitions
It seems like ages ago now, but back in February we refreshed our visual identity and our brand promise: achieving ambitions for our colleagues, stakeholders and communities.
6) Celebrating CaterCares launch and partnership at The Greater Boston Food Bank
It’s been nearly a year since we officially launched CaterCares, a program aimed to help end childhood hunger. Since then, we’ve raised enough money to create over 100,000 meals.
7) Boston among top 5 cities in the world for innovation and talent
Boston was ranked as the #5 city in the world for knowledge and innovation in our JLL Research Report: Decoding city performance.
8) Team reigns in top honors at CBA Achievement Awards
Our own Joe Flaherty took home the Top Broker of the Year honors while Digitas/Publicis Groupe’s lease at Congress Square was named Boston Office Deal of the Year.
9) Cautious optimism as Boston remains among country’s top multifamily markets
Multifamily sales continued to surge in 2017, as institutional investors viewed Boston as one of the top three most desirable markets, alongside New York and San Francisco.
10) Talent is a key driver in Boston’s tech growth
The technology industry continues to fuel the Boston economy. Case in point, the city was ranked the #7 market in the US with more than 40% of total leasing attributed to tech.
We will continue to share the latest news and insights from across the New England commercial real estate industry in 2018. If you haven’t already, we encourage you to subscribe to our blog. Happy New Year!