Wrise boston3/30/2023 ![]() ![]() ![]() Tom O’Brien, managing director of The HYM Investment Group, said he’s been giving more tours lately at One Congress. So developers with partly-built towers to lease are getting busy - and creative. The overhaul of One Post Office Square is among four ongoing projects that will add about 3.3 million square feet of office space to the heart of downtown Boston. Investment firm Eaton Vance is near the end of its 300,000-square-foot lease at International Place. Facebook has long been rumored to be looking for a Boston office. Brokers are tracking just a handful of major tenants shopping for space right now. Just a handful of large leases have been signed since last March and only one - Amazon’s deal in January for 630,000 square feet in the Seaport - was big enough to fill a new building. Today, major tenants are few and far between. The times were so heady that usually-conservative Boston builders launched construction without having tenants lined up - “on spec,” in industry parlance - confident the companies would come. Using a scatter plot let’s see how these features vary with MEDV.“Barring some big resurgence in demand, I think we’ll continue to see vacancy elevated for the next couple of years,” said Aaron Jodka, research director at real estate firm Colliers.īoston’s office market has changed dramatically since 20, when big-name companies such as Wayfair, Verizon, and Amazon were leasing huge blocks of space and coworking company WeWork was gobbling up floors wherever it could find them. Same goes for the features DIS and AGE which have a correlation of -0.75.īased on the above observations we will RM and LSTAT as our features. ![]() We should not select both these features together for training the model. These feature pairs are strongly correlated to each other. The features RAD, TAX have a correlation of 0.91.
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