Boston, MA Office Buildings for Sale
Browse up-to-date local listings represented by leading commercial real estate brokerages. Our online inventory currently offers 4 office properties for sale in Boston, MA — a total of 104,339 square feet. Individual property size across listings varies between 1,455 square feet and 86,136 square feet.
According to the CommercialEdge March office report, Boston office space recorded the lowest vacancy among the markets surveyed — 10.5% following a 90 basis points (bps) contraction over the previous 12 months and well below the national average vacancy rate of 15.7%.
Office sales volume across the top 50 totaled $26.3 billion, with transactions in the Northeast contributing roughly $12 billion and deals for assets located in the West adding $9.31 billion. More precisely, last year’s priciest office deal was the $3.4 billion sale of University Park at MIT in Cambridge, Mass. — a massive, 11-building deal totaling nearly 2.3 million square feet.
December vacancy rates also stagnated at the national level, settling at 15.5% (an increase of 130 basis points Y-o-Y) and leveling out after some volatility in 2021. In particular, Boston office space had the lowest vacancy rate in the country at 10.3%, followed by Miami at 12.5% and Los Angeles office space at 13.2%.
Commercial real estate services group Newmark recently announced that it had completed the sale of eight premier office campus assets in Andover, Mass., for a total of $341 million. The properties are located within Minuteman Park, a highly amenitized development that is conveniently located directly off Interstate 93, five miles south of the New Hampshire border and 25 miles north of Boston
The former Fidelity Investment headquarters office building located at 40 Water St. in downtown Boston is the subject of a new equity and debt capital arrangement.The building at the corner of Water Street and Congress was recently redeveloped, bringing it to a total of 371,996 square feet of Class A Boston office space.
San Jose boasted the highest median earnings for Millennial households. followed by San Francisco, Boston and Seattle.
While at a city level, Boston lost out due to lower affordability than the other podium entries, it still presents ample opportunities and advantages for Zoomers who graduate from one of its numerous universities or those who want to relocate to one of the nation’s tech and coworking hot spots.
In Boston, nearly 25 million square feet of office space serves life sciences tenants, ranking it as the largest life sciences real estate market among the cities surveyed.
The Druker Co. — recognized as a leader in downtown revitalization —submitted a proposal for a 588,000-square-foot office and lab space in Boston’s South End.
The second-largest office deal of 2022 took place in Cambridge, Mass. — one of the hottest biotech clusters in the nation and the focal point of the life sciences-fueled demand for Boston office space.
Competition is fierce at the top: Manhattan and Boston have been very close in terms of their sheer amount of square feet currently in the pipeline. Both are set to deliver close to 13 million square feet of new office space to their respective markets in the near future.
Boston maintains its dominance in the life sciences industry with world-class research institutions, available talent and funding. In fact, the region leads the industry with both the largest real estate market and largest labor force employed, which is further evidenced in the area’s 13.2% growth of biopharma employment in 2021.
The Boston metropolitan area earned the score for best tech metro in the Northeast, boasting the highest tech employment density and some of the highest median earnings among the cities in the ranking.
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