BOSTON—Most regions in and around Boston share two commoncharacteristics that reflect very strong office markets, lowvacancies and rising rents. This is especially the case in DowntownBoston and particularly in the Seaport District.

For example, the downtown office vacancy rate dropped to 9.8%overall and the overall asking rent for Class A office space nowstands at $56.32-per-square-foot as of the end of the secondquarter, according to figures supplied by CresaBoston. The Financial District's office vacancy rate is at9.9%, the Back Bay at 12.1%, while the Seaport/South Stationdistrict sports a rather paltry 7.6% rate. The North Station regionhas just 2.5% of its nearly 2 million square feet of space sittingempty.

Joseph Sciolla, Cresa Boston managingprincipal, says the Seaport District has been very active for thepast three years “primarily because it has been the costalternative and it is receiving a lot of in-migration business fromDowntown, but primarily Cambridge.”

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.