Greater Boston Office Availability Rate Tops 20 Percent
Greater Boston’s office availability rate reached a record high of 20.2 percent at the midyear mark after another declining quarter for leasing activity and uptick in sublease space.
Verizon Seeks to Shed More Office Space in Boston
The anchor tenant of the Hub on Causeway is offering the bulk of its remaining office space for sublease amid a continuing surge of givebacks in Boston towers.
Rents Dip Again at Downtown Office Properties
Asking rents declined at downtown Boston office properties as the availability rate approached 20 percent at the end of 2022, the highest level in two decades.
Office Market Takes Another Step Back
A handful of high-profile leases at trophy office buildings couldn’t mask declining occupancy in Greater Boston’s office market during the third quarter.
Biogen Seeks to Sublease Cambridge, Weston Properties
Biogen is offering over 263,000 square feet of office and research space in Cambridge and Weston for sublease in the latest retrenchment of the life science industry’s local footprint.
Class B Properties Feel Brunt of Office Market Pullback
Asking rents for class B office properties in Boston declined by double digits while availability rates hit near-record highs of 22.3 percent.
Boston Office Rents Rebounding Amid Construction Boom
Construction crews topped off the 43-story One Congress tower at Boston’s Government Center as a brokerage report detailed signs of a recovery in the city’s office market including an uptick in asking rents.
Facebook Set to Triple Office Space in Kendall Square
A long-coveted Kendall Square tech office appears to be under agreement to be occupied by Facebook, expanding its presence in the Cambridge tech hub by 263,000 square feet.
Boston Office Vacancies Near 16 Percent Amid Class B Slump
Boston office vacancies hit 15.7 percent in the first quarter but signs of a gradual recovery are starting to emerge in the post-pandemic outlook, according to a brokerage report.
Majority of Boston Office Deals Now Subleases
After a year of disruption to office occupancy, tenants have more leverage to negotiate deals with landlords in Boston and other cities with gluts of sublease space.
Drizly Expands With Back Bay Sublease Deal
Alcoholic beverage delivery app Drizly is expanding in Back Bay with a 30,665 lease at 501 Boylston St.
Some Boston Office Rents Start to Dip
Landlords of second-tier office buildings in Boston have begun reducing asking rents amid a pandemic-induced decline in occupancy, and a brokerage report predicts their class A counterparts are likely to follow suit this year.
Sublease Space Hits Record Levels in Market
The fallout from the current health crisis continues to affect Greater Boston’s office market, with fundamentals wavering further during the third quarter of 2020.
Pandemic Widens Gaps Between CRE Winners and Losers
Just as COVID-19 has widened inequities throughout the U.S. economy, the pandemic is separating commercial real estate sectors into stark categories of haves and have-nots.
Sublease Market Spikes as Companies Rethink Real Estate
Local commercial real estate researchers are tracking nearly 500,000 square feet of sublease space in Greater Boston that’s hit the market since mid-March as the area faces questions about the future of office space and a sizable construction pipeline.
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