Tag Archives: Office Vacancy Rates

0 Boston Office Rents Climbing

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101 Arch street office building in Boston's financial district

Office Building at 101 Arch St, Boston

The Boston office market continues to see a reduction in vacancy alongside increased pricing.

A Boston Business Journal article specifies, “every Boston submarket with the exception of the Back Bay saw the vacancy rate fall as tenants leased 1.2 million square feet of office space from January through March with 354,457 square feet getting absorbed. Citywide, the overall vacancy rate dropped to 10.3 percent in the first quarter, down from 12.6 percent a year ago.”

For additional details and submarket specifics, head over to the BBJ online.

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0 Boston Commercial Market Shows Full Recovery

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office space at 10 Langley Place in Newton MaThe recovery is well underway which is evident by the downtown vacancy rate dropping below 10 percent.

According to a Banker & Tradesman article, referencing  a Jones Lang LaSalle (JLL) report on commercial leasing, “Boston is officially in growth mode and has exceeded its pre-recession jobs peak…high-tech and life sciences continue to grow, at 9.8 percent and 5.9 percent year-over-year, respectively.”

Additional details on the commercial market recovery are available on the Banker & Tradesman website.

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