Rents rise, absorption drops, and other Q1 office trends

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strope_blogFrom Lisa Strope
New England Research Director

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Q1 office rents continued on an upward trend and demand for space advanced across the market, pointing to another solid year for Greater Boston. On the heels of three consecutive years of near record-breaking occupancy gains, absorption dropped slightly this quarter. However, the lack of available space in Cambridge and the Seaport continued to fuel adjacent submarkets and renewed leasing momentum in the suburbs pushed overall market rents up 3% quarter-over-quarter. Bucking the national upward trend, overall market vacancy continues to hover near 2008 lows. However, despite the solid market fundamentals, there is limited new supply underway.

Check out some highlights below and view the full details in our Q1 Boston Office Insight Report. Please don’t hesitate to contact me for more information or with any questions.

BostonOfficeHighlights_Q12017-Infographic only

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