In the biggest sign yet of persistent trouble in Boston’s commercial real estate market, a 36-story office tower that boasts more than 1 million square feet of prime class A office space is heading for auction.
commercial real estate
Posted inEconomy
Boston’s effort to head off an ‘urban doom loop,’ explained
Boston has seen office vacancy rates spike since the pandemic. That is leading to lowered assessed values for buildings. With fears that lowered tax payments could create budget woes, Mayor Michelle Wu wants authority to raise commercial tax rates as a potential fix.