Boston office market insights
Q4 2023
2023 vacancy rate
As Greater Boston sustains a trend of negative net absorption, the vacancy rate demonstrates an inverse correlation, resulting in a noteworthy increase. Currently standing at 17.1%, this marks a 10- year high for Greater Boston.
2023 available sublease space
Throughout 2023, available sublease space has grown rapidly. Posting a year-end total of 10.1 ms f, it is evident that occupiers are no longer in need of as much space. With hybrid workplace models seemingly here to stay, we expect available sublease space to remain elevated in 2024.
2023 investment sale volume
Greater Boston posted $1.2 billion in investment sale volume in 2023. Despite the low total, transaction volume as well as sale volume began to see an increase in activity in Q4 2023. In the urban submarkets specifically, Greater Boston posted seven total transactions in Q4, compared to four in Q3.
Your source for the latest Boston office market reports
Get in-depth office market reports and insights from commercial real estate experts in the Greater Boston area. Avison Young advisors look at Boston commercial real estate activities and the latest Boston statistics to provide you expert market research on Boston's office properties.
Explore different topics like the latest office market pricing trends and analysis of Boston's current office real estate market conditions. Gain a better understanding of Boston’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Boston's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Boston.
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