WALTHAM, MA— Boston’s thriving Seaport district continues to be among the healthiest neighborhoods and is one of the strongest submarkets in the nation, according to a recent report released by Integra Realty Resources.
The annual report, entitled Viewpoint, covers the capital markets, office, multifamily, retail, industrial, hospitality, seniors housing, medical office, self-storage, housing, and auto dealership property types both nationally and by city.
Here are some of the findings from the Boston reports:
• Office: The Seaport continues to be among the healthiest neighborhoods and is one of the strongest submarkets in the nation. The health of this submarket continues to spill over into the Financial District.
• In regards to investment sales, Boston is one of the top cities for both domestic and institutional demand.
• Multifamily: For the first time in a few years, occupancy is ticking upward as new supply comes to the market. However, rental rates continue to increase slightly. The addition of new units has continued to be primarily in the Class A segment while there is a shortage of affordable housing.
• Retail: Over the next 12 months, retail values are expected to increase 2 to 3.9%. The retail market remains healthy with vacancy below 8%. Positive absorption is expected to continue in the region for the short term and rental rates are expected to increase slowly.