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We’ve seen downturns before. Boston-area office market will be OK.

A ribbon-cutting ceremony was held Sept. 20 at South Station where a new 51-story mixed-use tower is under construction.John Tlumacki/Globe Staff

Although the office market in Greater Boston is still struggling, let us not forget that this city has historically fared better than others because of its competitive economic edge and that this is temporary (“Room to go: Companies cut back on office space amid slow return to workplaces and recession worries,” Business, Oct. 24). Undoubtedly, macroeconomic headwinds are affecting commercial real estate and many industries worldwide, but there are still many reasons for optimism in the Boston area.

To list a few: Boston continues to lead the nation’s strongest life science market with tremendous growth. Venture capital firms continue to invest in startup companies and small businesses in our region. Furthermore, as the home of creative sciences, robotics, defense, and technologies, Boston will continue to drive people to the office for the momentum that comes from in-office collaboration in this city.


That’s not to say that challenges and an outlook of a decreased pace over the short term will not continue to hamper office activity through the end of the year. But we have been here before and have prevailed.

Matt Daniels

New England brokerage lead and executive managing director