Boston Office Vacancy Hits 24% as Leasing Stalls
Key Takeaways Boston's office vacancy rate has risen sharply to 24%, reflecting significant turmoil in the market. Leasing activity has slowed considerably, impacted by the shift to remote work and a surplus of available sublease spaces. Investors face increasing uncertainty as the duration and extent of the downturn remain unclear. Shifting Dynamics in Boston's Commercial Real Estate Boston’s office market is experiencing significant upheaval, with vacancy rates soaring to an unprecedented 24%. The leasing slowdown has been driven by persistent remote work trends and stalled demand in major sectors such as life sciences. Vast office towers now sit largely empty, while ongoing construction and a surge in sublease listings have contributed to the market’s oversupply. Investors now face a challenging landscape with growing uncertainty over how severe the downturn may become and which stakeholders will emerge resilient amidst the turbulence. Boston Faces Soaring Office Vacancies...