Office Rental Market
- $60.44 2019 Avg. Asking Rent
- 3.15 % 2019 Avg. Vacancy Rate
- 657,731 2019 Office Completions (Sqft)
- 3,570,005 2020 Estimated Pipeline (Sqft)
Average Office Asking Rents by Class
2019 Average Office Rent per Square Foot
- Cambridge Class A Office Buildings$80.05
- Cambridge Class B Office Buildings$42.89
- MA Class A Office Buildings$48.73
- MA Class B Office Buildings$33.36
- MA Class C Office Buildings$24.54
Cambridge, MA Office Asking Rents by Class
OFFICE CONSTRUCTION IN Cambridge, MA
- Cambridge, MA Total Sqft completed in 2019 657,731
- Cambridge, MA Total Sqft under construction in 2020 3,570,005
Building name | Address | Total Sqft | Year built |
---|---|---|---|
One Kendall Square | 1 Kendall Square, 02139 | 669,689 | 1887 |
Riverfront Office Park | 1 Main Street, 02142 | 656,021 | 1983 |
181 Massachusetts Avenue & 22 Windsor Avenue | 181 Massachusetts Avenue, 02139 | 550,000 | 2015 |
250 Massachusetts Avenue | 250 Massachusetts Avenue, 02139 | 506,716 | 2004 |
Cambridge Crossing - Parcel G | NWC North Street & Gilmore Bridge, 02141 | 501,000 | 2021 |
Draper Headquarters | 555 Technology Square, 02139 | 493,000 | 1976 |
Cambridge Crossing - JK Site | 222 Jacobs Street, 02141 | 460,000 | 2020 |
Akamai Global Headquarters | 145 Broadway, 02142 | 453,768 | 2019 |
Kendall Square at MIT - 314 Main Street | 314 Main Street, 02142 | 417,000 | 2021 |
Alexandria Center at Kendall Square | 100 Binney Street, 02142 | 417,000 | 2018 |
Office building | Address | Sqft | Completed |
---|---|---|---|
Cambridge Crossing - Parcel G | NWC North Street & Gilmore Bridge, 02141 | 501,000 | 2021 |
Kendall Square at MIT - 314 Main Street | 314 Main Street, 02142 | 417,000 | 2021 |
LabCentral 238 | 238 Main Street, 02142 | 414,000 | 2021 |
Cambridge Crossing - Parcel H | 450 Water Street, 02141 | 405,000 | 2021 |
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 |
399 Binney Street | 399 Binney Street, 02141 | 164,000 | 2019 |
121 First Street | 121 1st Street, 02141 | 58,200 | 2019 |
CAMBRIDGE OFFICE SALES TRENDS
- $1,021.112019 Avg. Price per Sqft
- 130.35 %Y-o-Y Avg. PpSF Change
- $628M2019 Office Sales Volume
- 52019 Number of Transactions
In 2019, office sales in Cambridge averaged $1,021.11 per square foot. This marked a 130.35 % increase in office price per square foot, compared to the previous year. A total of 5 office sales closed on the Cambridge office market in 2019, amounting to a total sales volume of $628M.
Average Office Sale Price per Sqft
Cambridge, MA Sales Trends
- Cambridge Price per Sqft$1,021.11
- Massachusetts Price per Sqft$353.86
Office Sales - Trend and Volume
- Cambridge, MA Total Office Sales Volume in 2019 $628M
- Cambridge, MA Total Number of Office Sales Closed in 2019 5
Largest Cambridge Office Sales in 2019
Property name | Address | Date | Price |
---|---|---|---|
Alewife Research Center | 35 Cambridge Park Drive | 12/4/2019 | $332,500,000 |
American Twine Office Park | 222 3rd Street | 6/3/2019 | $87,000,000 |
Blackstone Science Square | 237 Putnam Avenue | 6/19/2019 | $80,000,000 |
87 Cambridge Park Drive | 87 Cambridge Park Drive | 1/25/2019 | $71,000,000 |
625 Mount Auburn Street | 625 Mount Auburn Street | 10/11/2019 | $57,500,000 |
See trends for nearby markets
The Cambridge office market contains an inventory of 23,999,270 square feet of office space, in 179 buildings that are equal to or larger than 25,000 square feet.
This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive 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.