Boston s Office Market Is Worsening As More Developers Pivot To Labs
Boston’s office market struggled mightily in 2020, recording historic levels of negative absorption and sublease availability.
The city s office landscape was performing as well as Boston’s thriving life sciences market in 2019, but last year’s coronavirus pandemic sent the markets in two dramatically different directions, researchers from Avison Young, CBRE, Colliers and Hunneman said in their Q4 reports. Boston
While the lab market soared with major deals and record-low vacancies, the metro area recorded negative 4.2M SF absorption in 2020, a record for both a calendar year and a four-consecutive quarter period, according to Colliers.