CRES Report Week Ending July 31, 2020
Continuing the trend 43 spaces (over 1,000 SF) hit the market as available equaling 180,000 SF, much less than last week, but typical for many of the weeks over the past 4 months;
13 spaces (over 1,000 SF) came off the market (56,000 SF) which has been consistent over the past month, many of these spaces are merely going to direct available from a previously listed sublease;
Quarter To Date net absorption is -139,000 SF and Year To Date absorption is -985,000 SF.
The Office VACANCY RATE in Cambridge (“ride the Red Line from Alewife to Kendall”) is 5.5% with 3.9% sublet availability, for a TOTAL AVAILABILITY of 9.4%.