Urban Boston office investment sale volume sees uptick, setting a new baseline on pricing compared to 2022

• Since the beginning of 2023, office properties in Downtown Boston have witnessed a notable surge in investment sales, totaling $284.5 million through seven transactions. This marks a substantial increase of over 160% compared to 2022, and additional sales are anticipated to be completed by year-end.
• Although relatively modest, the $100 million uptick in sales volume, coupled with an uptick in transaction frequency, suggests a growing appetite among investors for opportunistic deals in Downtown Boston. This trend is particularly pronounced as the divide between buyer and seller expectations gradually narrows.
• Additionally, these transactions are establishing a new benchmark for future deals, offering valuable pricing data to support upcoming transactions.

Source: AVANT by Avison Young, CoStar