Negative absorption continues with 24 spaces hitting the market as available in the subject area in the last 7 days, equating to 176,000 SF.
18 spaces (over 1,000 SF) came off the market equating to 196,000 SF which appears to be sublease space “going direct” or being withdrawn by sublessors. More study is needed.
Checking back in on the Financial District: this is a 36,000,000 SF office area, with a direct availability of 10.1%, resulting in a 13.1% (9.5mm SF) total availability rate.
The availability rate in Boston spiked to an all-time recent high of 15,800,000 SF.