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Boston & New England  + Boston  + Office  | 
Boston has been ranked as the nation’s ninth top target for commercial real estate investment by CBRE’s 2023 U.S. Investor Intentions Survey.

Boston Leads Return-to-Office Growth in June 

Boston leads the U.S. in year-over-year growth for workers returning to the office, with a 10.3 percentage point increase, according to data from Placer.ai after tracking foot traffic in commercial office buildings in major metro areas. This growth surpasses the national average of 5.3%. Following Boston are Atlanta, Miami, Chicago, and New York. 

Despite this progress, Boston’s office-building foot traffic in June was still 32% below June 2019 levels. The national average drop is 29.4%, with Miami showing the lowest decline at 9.8%. New York has seen high return-to-office rates, driven by Wall Street mandates. In contrast, San Francisco has the lowest return rate, with only 49.2% of pre-pandemic office attendance. 

The COVID-19 pandemic has significantly altered office-work patterns, leading to lower office-building sale prices, reduced valuations, and a slowdown in new office space construction in Boston and other major cities. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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