Trophy properties in urban Boston showcase the longest average lease term lengths

• In downtown Boston, trophy properties dominate with the highest average lease term length, reaching an average of 104 months. Reflecting the prevailing trend towards quality, tenants are choosing to secure extended leases for premium spaces.
• On the flip side, downtown Boston has witnessed a decrease of around 18 months in the average lease term length for class A properties when comparing 2022 to 2023. Given the substantial investments made by class A buildings in amenities and property upgrades, we expect the average term length to rebound and increase in these premier properties.

Source: AVANT by Avison Young, CoStar