Boston Sets the Pace in US for Office Market Recovery

Boston Sets the Pace in US for Office Market Recovery

by Lisa McDuffie | via

Boston led the country in office market recovery in October thanks to a high number of tenants in the market and strong leasing activity, according to CBRE’s monthly “Pulse of U.S. Office Demand” report.

“The life science industry was once again a strong driver in Boston’s recovery, though we are also seeing demand pick up in other sectors, including technology and financial services, which is adding to the positive momentum,” said Nicole LaRusso, CBRE senior director of research and analysis.

  • Boston had the highest Tenants-in-the-Market Index level among the major metros at 134. That’s 34% above the pre-pandemic baseline.
  • Boston’s Leasing Activity Index was 158 in October, 58 points higher than the pre-pandemic level.
  • Boston’s Sublease Availability Index for Boston climbed three points to 151, 51% above the pre-pandemic baseline.

For each index, a reading of 100 equates to the pre-pandemic levels of 2018 and 2019.

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