The Pulse | Q4 2023 Edition | Greater Boston Market

Large contractors in the Northeast and throughout the US have relatively healthy backlogs extending throughout 2024 and into 2025. Macroeconomic factors like interest rates, inflation, record vacancy rates in urban areas (i.e., Boston / Cambridge), and lack of large tenant movement have led to many market sectors being stagnant for construction. Without signed lease agreements, developers are still not moving forward with large scale buildings that are shovel ready. Academic and healthcare market sectors continue to be strong in the Northeast and data center activity is very strong throughout many areas of the country. 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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