Vice President of Large Project Division Mark Malmquist Shares 2026 Spring Preview

Mark Malmquist, vice president for Shawmut’s large project division in New England, shared his industry outlook for the coming spring with New England Real Estate Journal. In his forecast, Mark points to the continued importance of early collaboration between clients and partners, growing opportunities to modernize existing assets to long-term resilience, and renewed momentum.

Read what Mark has to anticipate going forward below.

What projects, initiatives, or types of work are currently keeping your team busiest?

Much of the work we’re seeing right now is centered on helping clients maximize the long-term value of their existing assets. In higher education especially, institutions are prioritizing renovations, energy upgrades, and strategic campus improvements that strengthen research, student life, and overall competitiveness. That includes large-scale, occupied renovations like our $550 million, multi-year overhaul of Boston University’s Warren Towers. At the same time, public agencies and cultural organizations continue to invest in facilities that support their communities.

What opportunities or challenges do you see shaping the commercial real estate landscape over the next several months? 

One of the biggest opportunities right now is early collaboration and thoughtful planning. When owners engage their construction partners earlier, teams can better navigate financing dynamics, evolving costs, and supply chain considerations. At the same time, there’s growing opportunity to reposition and modernize existing buildings to enhance long-term value and ensure they remain adaptable to evolving market needs.

What trends or market activity are you seeing as we move into the spring season?

 As we move into spring, the New England market feels like it’s regaining momentum. Public investment remains a strong driver, with new K–12 schools and infrastructure projects moving forward across the region. At the same time, we’re seeing renewed activity in commercial corridors, particularly in hospitality, along with more mature life sciences companies advancing projects as the sector continues to evolve.