Gov. Baker Speaks at C&W’s Annual Market Briefing

BOSTON - April 3, 2015 - PRLog -- Cushman & Wakefield’s research and thought leadership continue to grow a presence in the public-policy arena; particularly, with regard to transit-oriented-development, and defining that value premium for commercial property within these walkUPs (walkable urban places).

In light of Boston’s recent (weather-related) transit crisis, and newly-elected, Massachusetts Governor, Charlie Barker, Jr.’s, stated goal of spurring growth beyond the city’s CBD, increased investment in these communities will play a key role in his economic development plans for the city. And this Wednesday, it was a key topic of discussion at the firm’s annual Top of the Market event, where the Governor briefly discussed infrastructure and public transit in a lively speech and Q&A discussion.

Each year, Boston-based U.S. Head of Investments Robert Griffin along with East Region President and New England Market Leader, Luis Alvarado, host roughly 400 clients for a commercial real estate market overview.  This year, it was held from 1:00 p.m. to 5:00 p.m. at the Four Seasons.  Leadership from the firm’s capital markets and leasing teams shared valuable insights and predictions about the current and future state of the market.  Woven throughout the presentation were the findings from a recently released study that leveraged the firm’s proprietary market data to inform local government about Boston’s available land use for walkUPs.

Among its findings: real estate values in Boston-area WalkUPs are 37% higher across all product types than drivable sub-urban development; and on a per-acre basis, can generate 135% higher net revenues—up to 12  times greater— than drivable sub-urban communities.

“We already knew that Boston is America’s Walking City,” noted Griffin. “What this research makes clear is that the market for walkable real estate in Boston is growing and offers advantages over drivable suburban development.”

Last year, Cushman & Wakefield’s Research for the Americas released another highly acclaimed report (http://www.cushmanwakefield.com/~/media/reports/corporate...) exploring transit-oriented development across 10 major North American cities—Boston (http://www.innovationdistrictsource.com/bostons-seaport-d...) being one. That study found that these projects are almost exclusively dependent on successful public-private-partnerships; and are critical to keeping pace with urban population surges, winning millennial talent and competing effectively as a world class city.

Based in San Francisco, Cushman & Wakefield Research for the Americas is recognized worldwide for the originality and value of its research. The team performs rigorous, property-oriented research and data-driven analysis on a global basis. Its professionals collect data from publicly available sources, owners, agents and – most importantly – from the firm's brokers, appraisers and property managers.

“The depth of the research and knowledge we are providing at such a granular level is enabling the production of findings that will impact these local markets for years to come,” said Maria T. Sicola, head of Research for the Americas. “And beyond the value for public policy, this involvement demonstrates our knowledge capital and ability to drive better and greater returns for our clients by spotting trends and new frontiers in emerging areas for investment.”

The Boston study referenced above was produced by the Center for Real Estate and Urban Analysis at the George Washington University School of Business; the Northeastern University Dukakis Center for Urban and Regional Policy; and the Metropolitan Area Planning Council, in conjunction with Cushman & Wakefield and LOCUS: Responsible Real Estate Developers and Investors, a program of Smart Growth America. To see the full list of land use types, as well as the list of WalkUP economic and social equity rankings, download the report at www.smartgrowthamerica.org/walkup-boston.

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Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 248 offices in 58 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management. To learn more, visit www.cushmanwakefield.com.