Downtown Boston demand requirements dominated by surplus of FIRE & tech tenants

As of March 2025, Downtown Boston currently boasts over 4 msf of active space requirements across a multitude of industries. Banking, finance, insurance and real estate (FIRE), as well as tech companies account for the bulk of these tenants, representing over 50% of all tenants in the market.
Government, education, and consumer goods occupiers have the highest average sf requirements, primarily due to two major tenants seeking over 200,000 sf. Given these tenants settle on space soon, the average sf required across these industries will decrease by 61%.
Granted no new, significant, out of state occupiers are looking to expand their footprint into Downtown Boston, active space requirements are expected to hover around 4 msf throughout the remainder of 2025 and into 2026.

March 13, 2025

US-MA-BOS Boston