The Greater Boston suburban office market had a strong third quarter of 2019, finishing the quarter with 337,149 sq. ft. of positive absorption, as sizable new deals and expansions across all submarkets bolstered the market with continued growth of existing tenants.
Overall, availability and vacancy both decreased 60 basis points (bps) each to end the
quarter at 20.5% and 15.8%, respectively.
Life science deals dominated the quarter, and companies continue to view suburban lab space as a cheaper alternative to comparable spaces in Cambridge and Boston.