The rest of the country should follow us, at least for how we develop and occupy our office buildings here in Boston and Cambridge commercial real estate markets.
The Boston office market itself is a text book for the office market of the 21st century…the city of Boston will have its fourth straight year of over 1 million s/f of absorption and has a 7.2% vacancy rate.
Cambridge is a story unto itself. This is a 23.7 million s/f market with a 3.8% office vacancy and 3.0% lab vacancy. The market is completely out of space.