The Greater Boston suburban office market recorded 315,759 sq. ft. of positive absorption in Q1 2020, with considerable growth in the Metro West market. This growth also signals the third consecutive quarter of positive absorption for the suburban market. The vacancy rate decreased by 20 basis points (bps) to 15.0%, the lowest vacancy rate the market has seen in over 15 years.
Demonstrated demand for quality space exists throughout all Greater Boston suburban submarkets. As prices in both Cambridge and Boston reach record highs, migration into urban submarkets slowed, and landlords are renovating old assets into modern, Class
A buildings with urban amenities to attract tenants.