The Cambridge office market had a relatively quiet quarter, however the stats across the market overall remained strong. Availability saw a slight increase, jumping to 7.3%, while vacancy saw a slight decrease, dropping to 3.7%.
The office market was dominated by life science companies this quarter, with firms like Moderna and Epizyme substantially growing their office footprint.
The Cambridge lab market does not show any sign of slowing down as the demand for lab space in Cambridge has never been higher. Asking rents continue to climb in Cambridge, reaching $98.28 per sq. ft. triple net (NNN), a 14% increase from the same time period