Looking at the greater Boston area as a whole, S&S revealsthat some 7.8 million sf of space was available in the quarter froma total inventory of 125.3 million feet. That brought theavailability rate to 6.2%.
Year-to-date net absorption came in at 8.9 million feet withabsorption for the quarter posted at 4.2 million sf. Average askingrents hovered around $37.69 per sf.
Breaking the market down into subsectors, the winner in terms ofQ3 availabilities was South Station, which logged 0.3%availabilities (6,070 sf). Bringing up the rear was Back Bay, whichposted a 5% availability rate or 543,667 sf. Oddly, rents toppedthe charts at $56.39.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
