The measured recovery in the Boston office market carried into the fi rst quarter, as net absorption was positive for the fourth consecutive quarter and the vacancy rate declined from 15.8% to 15.4%. The Seaport was primarily responsible for the positive results, and tenants are now fi nding options in some areas of that submarket extremely tight.

The market is segmented, both in terms of pricing and with respect to availability. In the Financial District, the vacancy rate remains a sluggish 19.2%, due in large part to a surplus of lowrise space, and contrasts sharply to the Back Bay’s vacancy rate of 6.1%.

 

2012 Q1 Viewpoint Report Boston Colliers

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