Cambridge Office Market Trends

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)
In 2019, the average asking rent for office space in Cambridge was $60.44 per square foot, and the office vacancy rate across the market averaged 3.15 %. During 2019, developers added 657,731 square feet of new office space to the Cambridge market inventory. Office developments estimated for delivery during 2020 total 3,570,005 square feet.

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
10 Largest Office Buildings in Cambridge
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
Largest Office Properties Recently Completed in Cambridge
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
Data provided by Commercial Edge

Office Spaces for Rent in Massachusetts

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
Data provided by Commercial Edge

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.