2020 Office Space Rent & Sales
- $67.19 2020 Avg. Asking Rent
- 3.38% 2020 Office Vacancy Rate
- $935.3M2020 Total Office Sales
- $667.18Avg. Sale Price/SF
Cambridge office price per square foot in 2020 was $67.19 on average. The local office market recorded an average vacancy rate of 3.38% across all asset classes combined. The 5 transactions that closed here throughout 2020 amounted to a total sale volume of $935.3M. Cambridge office space commanded an average sale price per square foot of $667.18.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Cambridge Class A Office Space$80.19
- Cambridge Class B Office Space$51.10
- Massachusetts Class A Office Space$46.89
- Massachusetts Class B Office Space$30.93
- Massachusetts Class C Office Space$24.25
Cambridge, MA Office Asking Rents by Class
Cambridge Office Sale Price per SF
- $667.182020 Avg. Price per SF
- -34.66%Y-o-Y Avg. PpSF Change
- $935.3M2020 Office Sales Volume
- 52020 Number of Transactions
Cambridge, MA Sale Price per SF Trend
- Cambridge Avg. Sale Price per SF in 2020$667.18
- Massachusetts Avg. Sale Price per SF in 2020$459.05
2020 Office Sales Volume
- Cambridge, MA Total Office Sales Volume in 2020 $935.3M
- Cambridge, MA Total Number of Office Sales Closed in 2020 5
Largest Cambridge Office Sales in 2020
Property name | Address | Date | Price |
---|---|---|---|
Cambridge Discovery Park - Buildings 400 & 500 | 100 Acorn Park Drive | 12/1/2020 | $445,000,000 |
Cambridge Discovery Park - Buildings 200 & 300 | 60 Acorn Park Drive | 12/1/2020 | $165,000,000 |
36-64 Whittemore Avenue | 36 Whittemore Avenue | 8/4/2020 | $125,000,000 |
955 Massachusetts Avenue | 955 Massachusetts Avenue | 3/19/2020 | $101,250,000 |
One Alewife Center | 1 Alewife Center | 11/17/2020 | $54,000,000 |
2020 Office Construction in Cambridge, MA
- Cambridge, MA Total SF completed in 2020 716,000
- Cambridge, MA Total SF under construction in 2021 1,805,000
During 2020, 716,000 square feet of new office space were delivered across the market. At the close of 2020, the Cambridge office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 716,000 square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 1,805,000 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
Cambridge Crossing - Parcel G | 350 Water Street, 02141 | 501,000 | 2022 |
325 Main Street | 325 Main Street, 02142 | 420,000 | 2022 |
LabCentral 238 | 238 Main Street, 02142 | 414,000 | 2022 |
Cambridge Crossing - Parcel H | 450 Water Street, 02141 | 405,000 | 2022 |
101 Cambridgepark | 101 Cambridgepark Drive, 02140 | 163,000 | 2022 |
161 First Street | 161 1st Street, 02142 | 30,087 | 2022 |
CambridgeSide - 100 Cambridgeside Place Office | 100 Cambridgeside Place, 02141 | 162,000 | 2021 |
Cambridge Crossing - JK Site | 222 Jacobs Street, 02141 | 460,000 | 2020 |
Cambridge Discovery Park - Buildings 400 & 500 | 100 Acorn Park Drive, 02140 | 286,000 | 2020 |
Akamai Global Headquarters | 145 Broadway, 02142 | 453,768 | 2019 |
Worth noting among recent office completions on the Cambridge market is Cambridge Crossing - Parcel G, which is currently the largest new office development in the city, at 501,000 square feet.
See reports for nearby markets
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Cambridge commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.