From The Real Deal · TRD Staff · · 40s
Boston office market splits into distinct camps
Boston office market splits into trophy and value segments.
In brief
Boston office market splits into trophy and value segments. Boston office rents for trophy space hit a two-year high at $105.02 per square foot while average rents dropped to $66.49 per square foot. Originally reported by The Real Deal.
Boston office market splits
Boston office market splits into trophy and value segments with trophy space rents hitting a two-year high.
“People are paying more for commercial real estate now than they ever have before at the top of the market”
Trophy space rents surge
Trophy space average rents reached $105.02 per square foot in Q3, up from $76.16 last year.
Value segment declines
Average office rents dropped to $66.49 per square foot in Q3, a 30-cent decline from last year.
The takeaway
Boston office rents for trophy space hit a two-year high at $105.02 per square foot while average rents dropped to $66.49 per square foot.
