Rents in Downtown Boston typically bottom out 2-3 years after recessions

• After recessions, rents in Downtown Boston typically reach a nadir 2-3 years later. Similarly, following the onset of Covid, we observed a comparable trend with Class B rents. 
• In contrast, Class A rents have remained relatively stable since the pandemic began. Despite increasing vacancies, these asset classes have exhibited resilience in the face of current market conditions. 
• Class B rents have experienced the most significant decline in rental prices since Covid, potentially prompting heightened leasing activity in these properties as tenants capitalize on discounted rates.

Source: AVANT by Avison Young, CoStar