Boston, Massachusetts--(Newsfile Corp. - March 22, 2022) - Class B office leasing properties in the Seaport and Fort Point outperformed all other markets at the end of 2021, as lab conversions removed inventory and subleases were absorbed by new tenants or filled as employees returned their offices following pandemic responses that kept them away, Boston Realty Advisors' Boston/Cambridge Office Overview for Class B space reported today.
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New deal activity overall was healthy in the second half of 2021, but asking rents continued to decline, stabilizing going into this year.
Class B average asking rents were $54.79 in Boston and Cambridge, down $5.39 since the pre-pandemic 2019.
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ABOUT BOSTON REALTY ADVISORS
Founded in 2001, Boston Realty Advisors is a Boston-based, privately held, locally operated real estate firm. BRA is data-driven, with real-time insight on real estate trends ranging from commercial and residential development to debt and equity markets. BRA applies industry experience to inform decisions, manage risk, and maximize profitability for its clients. For more information on BRA, please go to www.bradvisors.com.
Tom Palmer, Tom Palmer Communication
Source: Boston Realty Advisors
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