Boston office market report

Q1 2025

1.73msf

Q1 2025 leasing activity

After a surge in renewal activity at the end of 2024, quarterly leasing activity in Greater Boston declined quarter-over-quarter. However, Q1 2025 saw a heightened number of new leases and relocations signed. With ample space available and over 4 million square feet of active downtown requirements, leasing activity is expected to increase throughout the rest of 2025.
$497mm

Q1 2025 office sales dollar volume

Office sales volume maintained strong momentum into Q1 2025, reaching nearly $500 million in total dollar volume (excluding condo sales). Investors who take an aggressive approach have a unique opportunity to acquire office properties at pricing comparable to the early 2000s. With conversion opportunities available and the office leasing market gradually rebounding, total sales volume is expected to remain on par with the past two quarters.
$52.12

Average asking rents (FS)

Rents in Greater Boston have remained relatively stable over the past year. The Back Bay submarket continues to narrow the gap with East Cambridge, currently the region’s most expensive submarket. With Back Bay’s Trophy and Class A market proving significantly tighter than that of East Cambridge, rents in the Back Bay are expected to keep rising, positioning it as a strong contender for the most expensive submarket in Greater Boston.

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.

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