Q4 2020 Greater Boston Suburban Office Outlook

In Q4 Boston suburban leasing activity increased for the first time since the beginning of the year. Correlated with promising news of the vaccine rollout, we expect to see this trend continue into 2021. Subleases continued to mount at year’s end but paled in comparison to urban submarkets where the impact was far more concentrated. Tenant demand began to recover after being dampened for much 2020. Active requirements increased 10% since Q3 2020, however, there is still a long way to get back to where levels were before the COVID-19 pandemic hit. Nevertheless there is indication of a potentially mild recovery for the Boston suburban office market.

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