BOSTON—Commercial brokerage firm Cresa reportsthat commercial markets in and around Boston, as well as Cambridge,are anything but tenant's markets and while strong, some still havea ways to go before they reach peak conditions.

In its recently released second quarter market report, Cresasays of Downtown Boston, "Today's tenants indeedface headwinds due to strong demand for office space across allsubmarkets and building classes. Cresa believes we are still 24-36months from market peak.”

Robust office space absorption during the second half of 2014,combined with few space options and a bullish attitude by officelandlords led to a sharp spike in rents in DowntownBoston. Class A average asking rentsrose more than 6% in the first half of 2015, while Class B averageasking rents soared 17% in the North Station and Seaport districtsand 13% in the Financial District.