Boston Tops the List of Expanding Office Markets

Boston is the leading office market in the country. New research from CBRE shows that Boston has strong Tenants-in-the-Market Index and leasing activity ranks, and the city is currently exceeding its pre-COVD activity in September. At the same time, the market has a shirking availability of sublease space, three trends that are spelling good news for the office recovery.

CBRE measures the health of an office market based on the three metrics above, the TIM Index, leasing demand and sublease availability, using 100 as a baseline for pre-COVID activity to give context to the recovery in these markets. On the TIM Index, Boston scored 125, 42 points above the national average, and in leasing activity is surged to a score of 210, while the average US city scored a 93. Sublease availability fell 18 points to a score of 145. While that is still 48% above pre-COVID activity, the significant decrease is a sign of recovery.