More companies have sought to give back office space in the Boston suburbs in recent months, driving substantial occupancy losses and bringing the region's vacancy rate to new highs. The suburbs had held relatively steady since the start of the pandemic, but as more companies have begun to consolidate and review their long-term plans, the market has seen an increase in sublease availability and vacant space, local office experts say. The Greater Boston office market recorded 2M SF of negative net absorption last quarter, and the region's vacancy rate surpassed 20% for the first time in 20 years, according to Newmark. That was up from 16.4% in the first quarter of 2023. 
A decrease in job growth, especially in the life sciences in technology sectors, has exacerbated the slowdown in office leasing across the region. But researchers told Bisnow there are signs this could be the year the market pivots."The suburban market definitely drove a lot of the negative absorption this quarter, which, prior to… Read the full story here. | 
