CBRE: Boston Top Performing U.S. Office Market During Pandemic Era

Boston was the U.S leader in pandemic-era office market performance, according to a recent report from CBRE. The city ranked first in the recovery of companies looking for office space and showing the city is well on its way to a return to pre-pandemic levels, reported CBRE in the firm’s “Pulse of U.S. Office Demand” report.

The report tracked three major indices to gauge the office market’s recovery from the COVID-19 downturn, both nationally and for each of the 12 largest U.S. markets. The report examines Tenants-in-the-Market (TIM) activity, which entails companies actively seeking office space; leasing activity in the form of finalized lease agreements and sublease availability. Overall, CBRE classified Boston as the leading market in the country, showing significant progress in recovery as of July.

“Boston has shown great reliance in withstanding the market downturn due to the pandemic,” said Nicole LaRusso, senior director of research and analysis at CBRE. “In fact, Boston was the top-performing market as it maintained a strong roster of tenants looking for space due to its large and growing life sciences sector that continued to expand throughout 2020 and 2021.”