The office market is primarily driven by the regional concentration of the universities, financial and professional services, life sciences, healthcare, and the rest. The economy operates as one single unit where each element is supporting one another. The state also leverages its historical heritage of having an extended intellectual network that represents a holistic system of the schooling institutions passing on talents from the kindergartens to the post-educational institutions. The local authorities have also succeeded in bringing the generational gap, having launched the local support program aimed at seniors to let them learn on the digital skills and be more confident when dealing with the online payments or ordering a taxi via the app. All of that adds up to the pace at which the area is developing and inspires its residents to join the race and serve their clients and community as well.
One of the largest trends in the commercial property market in Massachusetts refers to the in-migration of tenants from to the urban areas from both in and out of state. Large corporations such as Bose, Alexion, Reebok, Converse have rooted there to skew the companies’ workforce younger. Apart from the high standards of living that are inherent for any New England state, the newcomers are lured by the ever-supporting local authorities. When it comes to business, for example, the local governments are making every effort to help entrepreneurs cut through red tape. Thousands of pages of outdated laws regulating the commercial space for lease in MA are withdrawn to make doing business more effortless and enjoyable experience. Given the big economic development wins, such as the move-in of the GE and the unemployment rates trending towards the bottom, the state has excelled at it.
