The Cambridge office market had another strong quarter, highlighted by a decrease in availability and an increase in absorption. Availability dropped to 6.0%, the lowest it has been in over five years, and vacancy remained stable at 4.0%. Quarterly absorption reached 164,100 sq. ft. and the year-todate absorption for the first three quarters of 2019 has surpassed 960,000 sq. ft.
The Cambridge lab market continues its run as one of the tightest markets in the country, as limited available space contributes to the competitive process of securing a lease. Availability dropped to 5.4%, but vacancy did see a slight increase to 2.7%. The market posted positive absorption of 507,500 sq. ft. for this quarter and has seen 445,500 sq. ft. of year-to-date absorption.