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Greater Boston Office Sale Activity Hits Three-Year High in Q4 2024
Greater Boston’s office sale volume surged in the fourth quarter of 2024, reaching $708 million for the highest quarterly total since Q1 2022, reported Avison Young. “Falling valuations have spurred increased transaction activity, reflecting growing confidence among opportunistic investors and users eager to acquire discounted assets,” according to Avison Young’s Greater Boston Office Market Report.
2024 saw a 12-month tally of 60 office trades across the region. Most of these deals fell within two price ranges: $1.0 – $2.1 million and $4.5 – $9.5 million.
According to Avison Young, a significant driver of this activity was the sale of high-vacancy office buildings in the northern suburbs, including properties like 199 & 201 Riverneck Rd (Chelmsford), 75 Pleasant St. (Malden), 10 Technology Dr. (Lowell) and 4 Federal St. (Billerica). “Investors and users seem eager to acquire these properties, which are trading at an apparent trough,” the report stated.
Pictured: 75 Pleasant St. in Malden, MA.
- ◦Sale/Acquisition
