Home > Press Releases > RBJ Releases “officeSTATus – Winter 2012”

RBJ Releases “officeSTATus – Winter 2012”

December 21, 2011 Leave a comment Go to comments

Research Report Details Greater Boston Commercial Real Estate Office Market

BOSTON – December 21, 2011 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, today released officeSTATus – Winter 2012, the firm’s quarterly research publication on Greater Boston’s office market.

According to the firm, Greater Boston’s office market posted another strong quarter, with overall vacancy dropping 0.4 percent to 15.4%.  The market had positive absorption – the amount of space taken off the market – of 861,000 square feet, the highest such quarterly amount in the market since 2007.  Greater Boston is currently on a three-quarter streak of positive absorption and more than 1.8 million square feet were taken of the market during calendar year 2011.

“In addition to seeing another strong quarter for the office market, we are pleased to see that the positive results are widespread,” said Brendan Carroll, senior vice president of research, Richards Barry Joyce & Partners.  “Positive absorption has occurred in almost all geographies and has been driven by companies in a wide range of industries.”

Certain geographies are increasingly space constrained, with both East Cambridge and Boston’s Back Bay submarkets posting vacancy rates below 7%.  Additionally, 30% of the vacant space in Waltham as of the end of 2010 was absorbed in 2011, dropping vacancy from 26.7% to 18.6%.

About officeSTATus

officeSTATus provides critical information in an easy-to-read, easy-to-use format.  Charts, callouts and other graphics highlight key results. The quarter’s most significant findings are presented on the first page, in a bulleted list. The “Economy & Real Estate” section places the quarter in a broader context. Each of the primary submarkets – Boston CBD, Cambridge, Route 128 and I-495 – has a page devoted to specific findings for that area and include a notable “Fact” for each region.

The quarter’s “Market Interesting” page closes the year on a high note, showing four of the key drivers for demand for commercial office real estate.  The final page of the report is a chart with all the pertinent market statistics (vacancy, market size, absorption and availability, with historical data) in one handy reference.

To request a copy of officeSTATus – Winter 2012, please send an email to research@rbjrealestate.com.

RBJ&P Research Publications

In addition to officeSTATus, RBJ&P publishes nine other quarterly research reports:  indSTATus, which focuses on Industrial property types (manufacturing, warehouse and flex buildings) and individual marketSTATus reports on eight crucial sub-markets.  The firm’s biotechnology-focused report, bioSTATus, is released twice a year.  In total, the firm produces an industry-leading 42 reports per year, in addition to custom research projects for clients.

About Richards Barry Joyce & Partners, LLC

Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.

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