Boston Core Market Rates Rise, Absorb 221k SF According to Perry Report

BOSTON-In the latest Slate by Perry Bokerage, the Greater Boston Market continued adding tenants to its core market and rents climbed another percentage. Tenants absorbed 221,000 sf, lowering vacancy 0.6 percent to 8.3 percent as average Class A asking lease rates increased $0.71 to $65.82 per sf. The quarterly core market report Highlights:

◊ Greenway Class A vacancy has plummeted from 6.8 percent to 4.8 percent from year ago levels as a diversifying tenant base has increased occupancy by 198,000 sf.

◊ Burns & Levinson and Hogan Lovells together increased occupancy 140,000 sf at 125 High Street.

◊ A repositioning and expansion of One Post Office Square is set to make 800,000 sf available at the site at least one year ahead of the expected completions of the towers at Bulfinch Crossing and Winthrop Center, offering 775,000 sf and 468,000 sf, respectively. Read the full report here