Happy New Year from Cresa Boston!
2024 is underway and our team at Cresa Boston is looking forward to another year of meaningful partnerships and successful client engagements. In the year ahead, tenants will continue to see options and opportunity in a changing market. Our occupier-focused team is keeping a close eye on market developments and new players on the scene to deliver key insights and solid recommendations to our clients. Below, we’ve rounded up thoughts from a handful of our advisors, consultants, and project managers on what they’re most excited for in 2024.
“We expect to see lower interest rates in 2024. This is good news for our clients – money will be easier to borrow and the commercial real estate market will become more competitive, which creates leverage for occupiers.”
Mark Coelho, Senior Vice President
“After so much rich conversation around the role of the workplace in 2023, I’m excited to see the emergence of new workplace design and utilization trends as teams continue to iterate on post-Covid office space.”
Abby Denton, Senior Advisor, Project Management
“With the market having softened significantly, it’s a great time to be a tenant. I’m looking forward to working with new companies in Cambridge and the life sciences arena who have space needs now or in the foreseeable future – we’ll be able to present exciting opportunities in neighborhoods and buildings that may have previously been out of reach.”
Carter Swaebe, Advisor
“I’m excited on behalf of our clients. Companies in the position to make real estate decisions will have an abundance of quality options and a competitive advantage in an unbalanced market.”
Allison Hoffman, Senior Advisor
“I’m eager to see if the Fed follows through on dropping interest rates in 2024 as hinted. This would put an official end to the rate run-up of the last two years and could help curtail a lot of CRE distress, loosening strain on capital markets.”
Brian Gridley, Research Manager