The Greater Boston suburban office market recorded 323,379 sq. ft. of negative absorption in Q2 2020. The vacancy rate increased by 40 basis points (bps) to 15.4% while availability increased nominally by 10 bps to 19.7%. Despite a higher-than-average amount of sublease space coming to the market in Q2, the sublease rate remained flat at 2.4%. This was largely due
to significant leasing activity on the sublease spaces that came to market.
The Greater Boston suburban lab market recorded 21,654 sq. ft. of positive absorption in the second quarter of 2020. The market was led by Metro West with 31,230 sq. ft. of positive absorption while the Metro North market saw 9,576 sq. ft. of negative absorption. The suburban lab market has seen overall positive absorption the past two quarters, as demand continues for this asset class. Availability remained flat at 13.2% while vacancy decreased 70 basis points to 8.9%.