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Boston Market Reports

Boston Office Market

Average Asking Rent (Price/SF) $33.57
Vacancy Rate (%) 11.8%
Net Absorption (SF) -116,807

The market's momentum continued to build as 2018 unfolded, spawning more commitments to new construction, the expansion of in-place tenants and lower vacancy in most submarkets. Large tenant activity in Boston's CBD, on behalf of existing tenants and those with limited or no presence, is fueling take-up within new construction and has pushed direct availability in existing buildings to its lowest level in the post-recession era. Conditions in Cambridge have changed little as that market remains Greater Boston's tightest and most expensive. With all of the talk of inward migration and expansions in Boston and the urban vicinity, most suburban markets continue to hold steady. The sale of Reebok's headquarters following its recent relocation to Boston's CBD triggered negative absorption in what was otherwise a positive quarter.

Boston Industrial Market

Average Asking Rent (Price/SF) $8.30
Vacancy Rate (%) 6.3%
Net Absorption (SF) 839,622

Industrial performance in the Greater Boston market continues to point in the right direction, pushing the market to historic rents and lower vacancies. High demand for infill industrial and rising rents has pushed breaking ground on new industrial product into favorable territory regardless of increasing construction costs. New distribution center developments are more aware of competitors that are in proximity to them as a result of their staffing and logistical capabilities. The continuous high demand across all subtypes has stimulated shrinking vacancies and, as a result, rent growth throughout the industrial market.



Boston Office Market Report
1Q18
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Boston Industrial Market Report
1Q18
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Boston Life Sciences Market Report
1Q18
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