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Boston Market Reports

Boston Office Market

Average Asking Rent (Price/SF) $33.59
Vacancy Rate (%) 12.0%
Net Absorption (SF) 112,509

The Greater Boston office market recorded another quarter of stable growth, once again led by absorption gains in the Central Business District (CBD), where the influx of demand from outside the urban center and TAMI sector expansion remain prevailing trends. New construction in the CBD is nearly fully committed, while direct availability among existing product dipped below 10.0% for the first time in a decade. Cambridge remains incredibly tight, boasting sub-4.0% vacancy again this quarter and witnessing more commitments to new construction. The suburbs are seeing further traction on build-to-suit sites amid some tenant downsizing and relocations to more urban locations. Vacancy across the region held relatively steady this quarter, while asking rents continue to trend upward across most submarkets, with growth more prevalent along the Route 128 corridor and inward.

Boston Industrial Market

Average Asking Rent (Price/SF) $8.60
Vacancy Rate (%) 6.1%
Net Absorption (SF) 478,493

Greater Boston's industrial market saw another quarter with tightening fundamentals, sizable lease executions and strong pricing in the capital markets sector. Net absorption posted positive numbers for the 11th consecutive quarter, while the overall vacancy rate inched closer to the 6.0% mark. Average asking rents increased across the board, led by the R&D/ flex sector which posted 6.5% growth year-over-year. This remains one of the hottest asset classes in the Boston market, while all property types are trending in the right direction with more room to run.

Boston Office Market Report
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Boston Industrial Market Report
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Boston Life Sciences Market Report
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