2019 Q2 Multi Family Viewpoint Report Boston Colliers

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The Boston market remains hot in all respects, faring very well during this economic cycle. Rental rates and condo pricing continue to set regional records in metro Boston and the surrounding areas. Growth is driven by the low unemployment rate, 2.8% for the state, and the high-paying industries the region is known for. Further, the Boston population has grown by nearly 10% since 2010. More students drawn by the area’s top tier academic institutions are staying to work after graduating, feeding the area’s economic growth. Compounded by Boston’s international appeal, population growth has outpaced development, leading to a robust pipeline of multifamily projects to meet the increased demand. This high demand and limited supply have resulted in increasing rental rates and sales prices across the metro area and heavy investment in new multi-family and mixed-use projects.

 

2019 Q2 MultiFamily Viewpoint Report Boston Colliers

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2019 Q2 MultiFamily Viewpoint Report Boston Colliers

2019 Q2 Multi Family Viewpoint Report Boston Colliers

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Aaron Jodka | Colliers International | Boston

Aaron Jodka

Managing Director, Research & Client Services

Boston

As the Managing Director, Research & Client Services, I oversee all aspects of our Client Service offerings, including Research, Marketing, Graphics, Financial Analysis, Lease Administration, and Client Service Coordination. I ensure that our brokers are providing superior service and deliverables to existing and potential clients. At the same time, I assist brokers with pitch preparation and delivery, while continuing to push the Colliers brand via best-in-class research reports, thought leadership, and contributions to numerous panels, media, and industry events throughout the city.

I collaborate with every team at our firm and wear many hats: in-house economist, advisor, consultant, thought leader, strategic business analyst, presenter, and, of course, researcher. My team and I manage the information and intelligence in our proprietary database, which, dating from the late 1980s, includes detailed property statistics on nearly 220 million SF of office space as well as on lab properties in the Greater Boston area. We also track more than 150 million SF of industrial properties in our market.

Communication is integral in my work. I write our quarterly Market Viewpoint series, internal submarket and lab reports, and Colliers In Focus thought pieces. I offer market insight as a monthly guest on Bloomberg Radio’s Baystate Business, and I’m a frequent resource for Bisnow, Banker & Tradesman, The Boston Globe, Boston Business Journal, The Real Reporter, and other publications.

Before joining Colliers, I spent 11 years with Property & Portfolio Research (PPR), now CoStar Portfolio Strategy. There, I advised institutional clients on their commercial real estate investment strategies across property sectors and also spoke at industry events, quarterly CoStar webinars, and in front of client audiences. I also led and directed a team of economists who monitored property markets across the United States. Near the end of my tenure, I helped establish a new business unit at CoStar, leading in the hiring, training, and coaching of a team of 50 market analysts. 

Outside of the office, I like to cheer on my children’s extracurricular activities. I also hike, travel, relax at home or at the lake, or plug away at one home project or another. Last but not least, I’m an avid fan of Boston sports teams.

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Dion Sorrentino | Colliers International | Boston

Dion Sorrentino

Research Analyst

Boston

Dion Sorrentino joined Colliers International Boston as a Research Analyst in 2019. In this capacity, he contributes to the production of the firm’s quarterly Market Viewpoints, as well as managing the distribution of its weekly newsletter, Week in Review. In addition, he collaborates with brokerage and advisory teams on their client work and presentations.

Dion assists in managing the Colliers International Boston proprietary research database, which contains data on over 360 million square feet of commercial space in approximately 4,000 buildings in the Greater Boston area, encompassing Boston, Cambridge, and Suburban Boston and the insights it delivers. Dion also works with the rest of the research team to provide timely and reliable data that is critical to making effective and well-informed business decisions, including available space surveys and market trend analyses.

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