Boston Office Tenants Continue to Shed a Record Amount of Space

Boston’s office market has continued to weaken further as we move through 2023, with office tenants continuing to shed space and vacancy rapidly increasing. Since the beginning of the year, almost 1.5 million square feet of office space has returned to the market. And with 3 million square feet of new space being added, vacancy is up sharply, reaching an 11-year high of 10.8%.