Brokering a New Lease:...

Brokering a New Lease: Capturing the Value of State Offices for Massachusetts

Boston’s economic boom has been a boon for developers and landlords, as an influx of businesses means more demand for office space and a corresponding rise in rents. Among those organizations fighting for space downtown is the state government, which leases offices across the state for its various department and agencies, but concentrates 35 percent of that square footage in the City of Boston. While many of those departments benefit from proximity to Beacon Hill, there are others that could surely relocate to less-expensive cities. This report examines local conditions in Worcester and uses data from state leases and office studies to make the case that shifting some leased space from Boston to Worcester would be a win-win for taxpayers’ wallets and the Heart of the Commonwealth.

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