FIRE industries are driving demand for office space in Urban Boston Tech and other industries lag behind
Urban Boston office demand by average requirement size and count
- Currently, Urban Boston TIM’s (tenants in the market) account for 3.3 msf of active requirements. This demand is driven by 90 companies across multiple office-utilizing industries. Within this total, FIRE (finance, insurance, real estate) account for the most demand, totaling 1.2 msf.
- Among major industries utilizing office space, law firms and FIRE companies demonstrated the greatest average requirement size, at 42,286 sf and 41,724 sf, respectfully.
- FIRE industries lead all other office-using sectors with a total of 29 requirements. Tech companies follow in a distant second with 16 active TIM’s, while law firms account for 14. Together, businesses in these industries make up 65% of the of active TIM’s in Urban Boston.
May 29, 2024
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