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Boston 2021 Q4 Market Report

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TAKEAWAYS

  • Overall availability decreased for the third straight quarter, dropping 50 basis points (bps) to 16.0% in Q4 2021, but remains 180 bps higher than pre-pandemic level.
  • Asking rents increased 0.6% when compared to last quarter, at $32.42 per square foot (psf), and decreased 3.7% when compared to same period last year.
  • Leasing activity slowed in Q4 2021, down 8.4% from last quarter, but was up 86.0% from one year ago.
  • Relocation activity accounted for four out of the five largest transactions signed this quarter.

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