Newton Office Market Trends

Office Rental Market

  • $49.31 2019 Avg. Asking Rent
  • 11.86 % 2019 Avg. Vacancy Rate
  • 0 2019 Office Completions (Sqft)
  • 0 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Newton was $49.31 per square foot, and the office vacancy rate across the market averaged 11.86 %. During 2019, developers added 0 square feet of new office space to the Newton market inventory. Office developments estimated for delivery during 2020 total 0 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Newton Class A Office Buildings$52.56
  • Newton Class B Office Buildings$40.13
  • Newton Class C Office Buildings$29.10
  • MA Class A Office Buildings$48.73
  • MA Class B Office Buildings$33.36
  • MA Class C Office Buildings$24.54

Newton, MA Office Asking Rents by Class

Office asking rents vary across the Newton office market depending on several factors, one of which is property class. While rents for Class A office buildings in Newton averaged $52.56 per square foot in 2019, Class B office properties garnered average rental rates of $40.13 per square foot. Rental rates for Class C office property in Newton averaged $29.10 per square foot. On a statewide level, Class B office space rents averaged $33.36 per square foot, while rents for Class A office space across Massachusetts averaged $48.73 per square foot. On average, Class C office properties in Massachusetts commanded rents of $24.54 per square foot.

OFFICE CONSTRUCTION IN Newton, MA

  • Newton, MA Total Sqft completed in 2019 0
  • Newton, MA Total Sqft under construction in 2020 0
10 Largest Office Buildings in Newton
Building name Address Total Sqft Year built
Riverside Center 275 Grove Street, 02466 509,702 2000
Life Time Center 300 Boylston Street, 02467 286,000 2017
Chapel Bridge Park 55 Chapel Street, 02458 250,000 1965
Wells Park - 75/85/95 Wells Avenue 75 Wells Avenue, 02459 240,626 1988
One Gateway Center 300 Washington Street, 02458 174,000 1968
One Newton Place 275 Washington Street, 02458 172,705 1985
156 Oak Street 156 Oak Street, 02464 172,652 1930
Chestnut Street Business Center 1238 Chestnut Street, 02464 152,740 1887
Nonantum Office Park 320 Nevada Street, 02460 145,500 1880
Newton-Wellesley Hospital - Green, Blue & White Buildings 2000 Washington Street, 02462 135,583 1960
Largest Office Properties Recently Completed in Newton
Office building Address Sqft Completed
Life Time Center 300 Boylston Street, 02467 286,000 2017
2 Wells Avenue 2 Wells Avenue, 02062 129,510 2017
Newton-Wellesley Hospital Ambulatory Care Center Newton 159 Wells Avenue, 02459 42,022 2012
Riverside Center 275 Grove Street, 02466 509,702 2000
Packard Cove Office Park 130 Rumford Avenue, 02466 84,000 2000
2310 Washington Street 2310 Washington Street, 02462 40,000 1996
Chapel Business Center 59 Chapel Street, 02458 78,127 1994
Echo Bridge Office Park 381 Elliot Street, 02464 80,000 1990
1400 Centre Street 1400 Centre Street, 02459 26,284 1989
Wells Park - 75/85/95 Wells Avenue 75 Wells Avenue, 02459 240,626 1988
Data provided by Commercial Edge

Office Spaces for Rent in Massachusetts

See trends for nearby markets

The Newton office market contains an inventory of 3,555,293 square feet of office space, in 48 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 Newton 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.