Tech Firms Bear High RE Costs to Gain Access to WorkforceBy
Kendall Square, Cambridge, MA
BOSTON, MA—The Greater Boston/Cambridge region is one of the top technology markets in the United States. Tech firms are making business decisions to locate here based on future growth rather than simply cost –per-square-foot factors.
Greater Boston, including Cambridge, ranks sixth in total tech leasing and fifth in high-tech venture capital financing among the top U.S. markets, according to the JLL 2015 United States Technology Office Outlook.
Whether they are start-ups or expansion technology companies, making Boston or Cambridge their corporate address is coming with a high price tag. Northern California holds nine of the top 15 most expensive in-demand technology submarkets, while East Cambridge ranked No. 10 with an average asking rent of $67.21-a-square-foot. Downtown Palo Alto, CA came in first at $98.68-a-square-foot, followed by another Silicon Valley locale Downtown Mountain View, CAat $87.53-a-square-foot. San Francisco ($81.50), Hudson Square ($81.50) in New York Cityand New York City’s SoHo district ($79.80) rounded out the top five…
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