Boston – Boston commercial real estate firm Cresa released its annual Market Insight Reports this week. Cresa report provides a unique perspective on the state of the market, notable trends, and considerations to inform real estate strategies for organizations in Massachusetts and beyond.
Cresa’s dedicated research team collaborates with advisors from each submarket to summarize market shifts in the last year and develop data-driven insights and predictions for the future of real estate and the workplace.
- Downtown Boston: With sluggish demand and surging sublease availabilities, the downtown market is shifting. The good news for occupiers: rents appear to be softening and high-quality space is on the way.
- Life Sciences: Though the funding environment has cooled since the 2020-2021 frenzy, Greater Boston’s life sciences ecosystem is still strong. Recent market shifts are giving tenants more options and more time during the real estate search.
- Cambridge Office: With life sciences market activity waning ever so slightly, the Cambridge office market must fend for itself with organic office tenant demand. Low demand and widespread sublease availabilities are redefining this struggling market.
- Suburban Route 495: Flex and industrial spaces continue to dominate the 495 market. Although demand is slow, it still outpaces supply, allowing landlords to push rental appreciation.
- Suburban Route 128: 2023 brings opportunity for suburban space occupiers: the pendulum of leverage is swinging back to their favor and landlords are delivering quality assets.
View and download all market reports here.
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