2021 Office Space Rent & Sales
- $51.13 2021 Avg. Asking Rent
- 4.20% 2021 Office Vacancy Rate
- $1.9B2021 Total Office Sales
- $1,736.36Avg. Sale Price/SF
Cambridge office price per square foot in 2021 was $51.13 on average. The local office market recorded an average vacancy rate of 4.20% across all asset classes combined. The 7 transactions that closed here throughout 2021 amounted to a total sale volume of $1.9B. Cambridge office space commanded an average sale price per square foot of $1,736.36.
Average Rent by Office Class
2021 Average Office Rent per Square Foot
- Cambridge Class A & A+ Office Space$53.90
- Cambridge Class B Office Space$41.62
- Massachusetts Class A & A+ Office Space$47.50
- Massachusetts Class B Office Space$30.21
- Massachusetts Class C Office Space$24.52
Cambridge, MA Office Asking Rents by Class
Cambridge Office Sale Price per SF
- $1,736.362021 Avg. Price per SF
- $1.9B2021 Office Sales Volume
- 72021 Number of Transactions
Cambridge, MA Sale Price per SF Trend
- Cambridge Avg. Sale Price per SF in 2021$1,736.36
- Massachusetts Avg. Sale Price per SF in 2021$440.72
2021 Office Sales Volume
- Cambridge, MA Total Office Sales Volume in 2021 $1.9B
- Cambridge, MA Total Number of Office Sales Closed in 2021 7
Largest Cambridge Office Sales in 2021
Property name | Address | Date | Price |
---|---|---|---|
One Memorial | 1 Memorial Drive | 9/14/2021 | $825,100,000 |
Two Charles Park | 1 Rogers Street | 12/31/2021 | $539,738,200 |
One Charles Park | 1 Charles Park | 12/31/2021 | $235,261,800 |
One Canal Park | 1 Canal Park | 7/8/2021 | $131,000,000 |
24 Moulton Street | 24 Moulton Street | 9/9/2021 | $78,305,000 |
Coworking Spaces in Massachusetts
- New York City Coworking Space
- Manhattan Coworking Space
- Washington Coworking Space
- Brooklyn Coworking Space
- Boston Coworking Space
- Hudson Valley Coworking Space
- Philadelphia Coworking Space
- Columbus Coworking Space
- Cincinnati Coworking Space
- Pittsburgh Coworking Space
- Cleveland Coworking Space
- Cambridge Coworking Space
- Columbia Coworking Space
- Queens Coworking Space
- Cape Cod Coworking Space
- Newton Coworking Space
- Quincy Coworking Space
- Barnstable Town Coworking Space
- Lawrence Coworking Space
- Marlborough Coworking Space
2021 Office Construction in Cambridge, MA
- Cambridge, MA Total SF completed in 2021 162,000
- Cambridge, MA Total SF under construction in 2022 1,858,515
During 2021, 162,000 square feet of new office space were delivered across the market. At the close of 2021, the Cambridge office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 162,000 square feet of office space. Looking forward, development activity throughout 2022 is estimated to add 1,858,515 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
30 Hampshire Street | 30 Hampshire Street, 02139 | 30,025 | 2023 |
55 Spinelli Place | 55 Spinelli Place, 02138 | 17,094 | 2023 |
Cambridge Crossing - 222 Jacobs Street | 222 Jacobs Street, 02141 | 460,000 | 2020 |
Cambridge Discovery Park - Buildings 400 & 500 | 100 Acorn Park Drive, 02140 | 286,000 | 2020 |
Building 400/500 | 400-500 cambridge, 02140 | 270,000 | 2020 |
75 Binney Street | 75 Binney Street, 02142 | 151,160 | 2015 |
Cambridge Discovery Park - Building 100 | 100 Acorn Park Drive, 02140 | 128,601 | 2005 |
University Park at MIT | 88 Sidney St, 02139 | 155,823 | 2002 |
One Cambridge Place | 50 Hampshire St, 02139 | 202,000 | 1999 |
350 Massachusetts Avenue | 350 Massachusetts Avenue, 02139 | 118,000 | 1998 |
Worth noting among recent office completions on the Cambridge market is 30 Hampshire Street, which is currently the largest new office development in the city, at 30,025 square feet.
See reports for other markets
- Boston Office Rent Price
- Waltham Office Rent Price
- Burlington Office Rent Price
- Woburn Office Rent Price
- Quincy Office Rent Price
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- Los Angeles Office Rent Price
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 2021 through December 31st 2021. Construction pipeline data represented herein is valid as of April 2022. 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.