The Pulse | Q3 2024 Edition | Greater Boston Market

The Northeast construction market has slowed in 2024, as compared to the past 5 years. With some exceptions, new developer starts are on hold as large tenant activity / movement is lacking. Other macro factors are impacting commercial construction starts as well – such as high vacancy rates, an upcoming Presidential election, and rising construction costs to name a few. Conversely, the Medical and University / Academic sectors continue to invest in their facilities and VC capital appears to be coming off the sidelines for smaller life science investments. We’re cautiously optimistic that the commercial construction market is gaining some traction again. This update is a snapshot of today and we implore you to reach out with questions should you have any.

Michael Weber / President  (781) 255-8881 mweber@gastonelectrical.com

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