Cambridge, Inner Suburbs exhibit weakest visitation recovery, 495 Belt leads with strongest

• From Aug-2019 to Aug-2024, Cambridge and the inner suburbs showed the weakest office visitation recovery in Greater Boston. This is likely due to a higher concentration of tech occupiers, who have been slower to adopt 4 to 5 day return to office policies, coupled with a smaller amount of accessibility options compared to Downtown Boston; mainly less commuter rail and subway stops. 
• Submarkets along the 495 belt posted the highest recovery, driven by strong transportation access leading to easier commutes to suburban office parks compared to office buildings located in more densely populated urban areas with heavier traffic obstacles.
• Looking ahead, we expect to see a large uptick in Boston office visitations driven by heightened leasing activity and an increasing number of companies mandating 4-5 day in-office workweeks, following the lead of tech giants like Amazon and Tesla.

September 24, 2024

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