The end of the year is a time when many businesses start planning for the year to come. With 2020 almost upon us, here is a quick look at the market conditions in a number of Boston's most popular areas for office space. We organized them in the order that we typically receive questions from businesses that are curious about the Boston office market.
"How Much is the Rent?"
Office rent rates within and around Boston can vary quite significantly. Cambridge (particularly from Kendall Square through Harvard Square) and Back Bay continue to be the most expensive areas in Boston. The chart above shows the Financial District as one of the most expensive, but that is also somewhat misleading since it is by-far the largest area in terms of office inventory; there are some good deals that can be found in the Financial District and Midtown.
"Should My Company Rent or Buy Our Office Space?"
We do not get this question asked enough, but we do try to encourage businesses to consider whether buying is a viable option for businesses. Particularly when a business is looking for a long-term lease and/or they want to make substantial customizations to their workspace, owning rather than leasing can offer a substantial financial benefit.
For a free consultation to evaluate your current office space and expected needs, please contact us.
If you are ready to dive right in, you can start your search for office space for lease or your search for office space for sale.