Boston’s Cambridge was the most expensive office submarket in 2021 by average sale price, according to an analysis of CommercialEdge data from PropertyShark, a subsidiary of Yardi. 

The average price per square foot paid in office sales in the life sciences hotspot topped $1,560, thanks mostly to four high-profile deals.  Those include the purchase of Charles Park by Alexandria Real Estate Equities in December and MetLife Real Estate Investment’s acquisition of One Memorial Drive in September; both deals exceeded a price of $2,000 per square foot. 

 

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