Boston office market report

Q4 2024

$708mm

Q4 2024 Office Sale Volume

Greater Boston’s office sale volume surged in Q4 2024, hitting $708mm, the highest since Q1 2022. Falling valuations have spurred increased transaction activity reflecting growing confidence among opportunistic investors and users eager to acquire discounted assets.

$52.10

Year-end average FS asking rent

Asking rents at trophy and class A space has remained steady throughout 2024, as submarkets with a high concentration of these assets proved to post the highest rates. As of year end, East Cambridge posted the highest asking rent, followed by the Back Bay. Given the Back Bay’s strong class A market, pricing is expected to rise in the upcoming quarters.

+10.9%

Increase in Y-o-Y share of renewal activity

Renewal activity saw a significant year-over- year increase, while both new/relocations along with expansion deals declined in comparison to 2023. Major renewals by Bain Capital, PwC, and Ropes & Gray contributed over 1 msf of strictly renewal activity throughout 2024.

Your source for the latest Boston office market reports

Get in-depth office market reports and insights from commercial real estate experts in the Greater Boston area. Avison Young advisors look at Boston commercial real estate activities and the latest Boston statistics to provide you expert market research on Boston's office properties.

Explore different topics like the latest office market pricing trends and analysis of Boston's current office real estate market conditions. Gain a better understanding of Boston’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Boston's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Boston.

The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.

Get the latest Boston office market reports right in your inbox

Avison Young needs the contact information you provide to us to contact you about our services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy.