A graduate of the University of Massachusetts, Boston-area resident Michael Snedeker serves as a construction and commercial real estate consultant with Shellback Industries. In addition to keeping abreast of the latest development in the construction industry, Michael Snedeker monitors commercial real estate markets across the United States.
The economic outlook for the United States looks positive in 2018, with analysts expecting the real estate sector to continue its robust growth. A recent study conducted using Bureau of Labor Statistics data and other sources indicates that two of the hottest markets for commercial real estate investment are Austin, Texas, and Boston, Massachusetts.
Austin has taken the top spot on several best-of commercial real estate lists this year thanks to its burgeoning tech sector and its popularity with millennials. The city has also seen an explosion of growth in the co-working sector, which requires substantial office space.
Meanwhile, Boston has experienced a major resurgence in recent years thanks to a growing tech sector in South Boston and the relocation of major corporate headquarters to the city from companies such as GE. Additionally, Boston is considered one of the favorites for Amazon’s second national headquarters, which would boost an already booming commercial real estate market.