Commercial real estate on the South Shore was largely insulated from the effects of the pandemic, but the economic rebound, a crazy real estate market and a wave of extremely low interest rates have pushed big investors into smaller markets around Boston.
The South Shore Chamber of Commerce hosted the South of Boston Summit on Wednesday to discuss how rising interest rates and big money from financial institutions are creating chaos in the local real estate market.
Ashley Lane, of the real estate company Perry CRE, said the biggest trend is office space vacated during the pandemic being turned into lab space, which landlords can rent for twice the price.
Labs coming to Braintree:Integra LifeSciences near agreement to move manufacturing operations to Braintree
Housing forecast:What do experts think 2022’s housing market look like? 2021, without the ‘chaos’
On the South Shore, vacancy rates before the pandemic were low, and they’re still low, Lane…
