You Should See What’s Happening Out West of Boston. It's Wild.
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CRE Market Insights
If cities were stocks, Worcester, Massachusetts would be the undervalued gem — still flying under Wall Street’s radar but showing all the signs of a breakout. It’s the kind of place where a sharp investor or bold CEO might casually say, “We saw it before they did,” and everyone else just nods, wishing they’d moved sooner.
In response to the unprecedented challenges posed by the COVID-19 pandemic, the U.S. Federal Reserve introduced a historic fiscal stimulus package, infusing the economy with vast amounts of capital. This initiative helped stave off an economic contraction that many economists feared, but it also gave rise to a unique set of new challenges.
When consumers feel secure about their jobs, their investments, and their overall safety, their willingness to spend on goods and services increases. This trend was particularly noticeable in 2023 and is expected to continue shaping the retail landscape in 2024.
The prospect of even a mild recession presents many challenges for the commercial real estate industry. Learn about the different asset classes heading into 2023 in Worcester, Central Mass and the MetroWest region.
Take a walk in downtown Worcester and its surrounding neighborhoods, and you'll see vibrant, bustling areas that highlight the transformative impact of the $565 million CitySquare development project.
Surging consumer spending and volatility in global supply chains have companies and developers scrambling for a limited amount of warehouse and distribution space.
During the California Gold Rush, early settlers were able to stake their claim and command the market. The cannabis market in Massachusetts in recent years has been no different.
A key driver of searches in the region is finding facilities that can accommodate Current Good Manufacturing Practices (cGMP). Another driver is the critically low capacity of biomanufacturing in the metro-Boston region.
Vacancies are down, rents are up, and more stores are opening than closing. Despite many believing the pandemic would be the end of brick-and-mortar as we know it, store owners are, posting some of their best numbers in years.