Cambridge Office Rent Price & Sales Report

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
Cambridge office space cost in 2020 marked a -34.66% change compared to the previous year. The sale price for office space in Cambridge averaged $667.18 per square foot in 2020, across all market subdivisions and asset classes. Conversely, the statewide Massachusetts average office sale price during the same time period was $459.05 per square foot.

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
A total of 5 deals closed on the Cambridge office market in 2020, adding up to a yearly sales volume of $935.3M. Notably, the largest transaction on the market saw Cambridge Discovery Park - Buildings 400 & 500 change hands for $445,000,000 on 12/1/2020.

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
Data provided by Commercial Edge

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.

Largest Office Properties Recently Completed in Cambridge
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.

Data provided by Commercial Edge

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.