Cushman & Wakefield Releases Q2 2017 Market Statistics for the Greater Boston Office Market

Cushman & Wakefield released its mid-year MarketBeat research that tracks the performance of the commercial real estate market in Boston, Cambridge and the suburbs. For the second consecutive quarter, absorption in Boston was negative, but asking rents are still rising. The large blocks that have come online this year are largely attributable to tenants relocating into new construction.  However, supply is exceeding demand in some submarkets and the performance of asking rents is not reflective of current conditions.  This is a trend we are watching carefully. In Cambridge, the second quarter of 2017 was more of the same – continually rising rents and virtually no availability. However, a number of notable lab deals were executed this quarter - Momenta Pharmaceuticals and Synlogic backfilled Ironwood’s space at 301 Binney Street and GlaxoSmithKline committed to 42,000 SF at 200 Cambridgepark Drive. And in the suburbs, new construction and life science activity continues [...]

2017-07-12T12:54:54-04:00July 5th, 2017|In the News, News|

Cushman & Wakefield Releases Q1 2017 MarketBeat Report

Cushman & Wakefield today released its first quarter MarketBeat research that tracks the performance of the commercial real estate market in Boston, Cambridge and the suburbs. First quarters tend to be statistically slow, and the first quarter of 2017 was no exception.  However, there is always a story behind the numbers.  And this quarter brought a few trends we’ll be watching throughout the year. In Boston, a number of new availabilities contributed to negative absorption of over 500,000 square feet (SF). These new availabilities were not unexpected – and are solely attributable to new downtown construction. As larger tenants opt for new construction, they are leaving behind large blocks of existing space - many of which are remaining vacant for extended periods of time. Not surprisingly, the first quarter of 2017 was more of the same in Cambridge – high rents and virtually no availability.  However, Q1 did bring an [...]

2017-06-13T18:27:08-04:00March 30th, 2017|News|