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Boston Ranks First for Post-Pandemic Office Recovery: CBRE
Boston is the U.S. leader in pandemic-era office market performance, ranking first in the recovery of office demand, according to CBRE’s monthly “Pulse of U.S Office Demand” report. The Boston region fared best overall in three metrics charted by CBRE: tenants-in-the market (TIMs) activity; leasing activity in the form of finalized lease agreements; and sublease availability.
Boston’s TIMs index of 124 was 24% above the baseline level in August. The region ranked 13 points above the U.S. average for leasing activity, and 33 points below the U.S. average of 191 for sublease availability.
“Demand for office space remained stable last month with life sciences tenants playing a major role,” said Nicole LaRusso, senior director of research and analysis, CBRE. “Despite a resurgence in new COVID infections, Boston was still the top-performing market in the country, something we believe will continue for the remainder of 2021.”
- ◦Lease
