At just under 2.4 million sq. ft. of absorption at year-end 2018, the overall Downtown Boston Office market experienced the highest annual absorption in over a decade, recording 402,000 sq. ft. in the fourth quarter.
The 6.6% overall vacancy rate has created true competition, with tenants jockeying for
any space available. Demand remains strong with 31 active requirements seeking over 50,000 sq. ft. each in the Downtown Boston Office submarkets.
Approximately 3.1 million sq. ft. of development is currently under construction.