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Boston, MA Office Buildings and Office Spaces

603 Office Buildings & Office Spaces in Boston, MA

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Boston, MA Office Overview

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Notable Boston commercial real estate neighborhoods include the Back Bay, North End Boston, and South Boston office space submarkets. With a metropolitan population of nearly 2 million people, Boston is the largest city in New England and is seeing major demand for office space throughout the entire region.

As of mid-2017, the Greater Boston office market encompasses over 74 million square feet of existing office space in properties larger than 50,000 square feet. Boston's reputation as the intellectual and medical center of New England continues to create demand for white collar office employment in the education, bio-technology, education, and financial services sectors and also has a powerful impact on the Boston commercial real estate market.

Boston, MA Office Inventory Description

Boston ranks among the top 30 most economically powerful cities in the world and is home not only to a diverse mix of white collar businesses but is also considered to be highly innovative due in no small part to the presence of world-class universities that attract high-technology companies and venture capital.

With a gross metropolitan product of nearly $177 billion annually, there is powerful demand for white collar office employment in Boston. Nearly 75% of the office space in Boston is Class A or A+, while Class B inventory contributes an additional 25% of product to the market.

The Downtown - Financial District office submarket in Boston is home to some of the most prestigious Class A office buildings in the U.S. Global investors are attracted to world-class office properties like 50 Post Office Square, Two International Place, and 101 Federal Street.

Boston, MA Commercial Inventory Breakdown

Office Spaces

Total: 95,497,329 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 6,696,528 SF / 7.01% of total office
  • 100k to 500k SF: 36,107,393 SF / 37.81% of total office
  • 500k to 1M SF: 31,407,330 SF / 32.89% of total office
  • > 1M SF: 21,286,078 SF / 22.29% of total office

By class:

  • Class A+: 17,499,031 SF / 18.32% of total office
  • Class A: 41,308,083 SF / 43.26% of total office
  • Class B: 20,857,408 SF / 21.84% of total office

Top 10 Largest Office Buildings

in Boston

Office building Address Sqft Year built
200 Clarendon Street 200 Clarendon Street, 02116 1,746,151 1976
125 High Street 125 High Street, 02110 1,484,268 1989
The Innovation and Design Building 1 Design Center Place, 02210 1,389,192 2000
100 Federal Street 100 Federal Street, 02110 1,273,968 1971
The Offices at Copley Place 100 Huntington Avenue, 02116 1,242,000 1983
Prudential Center - Prudential Tower 800 Boylston Street, 02199 1,229,384 1961
One Financial Center 1 Financial Center, 02111 1,226,449 1984
115 Winthrop Square 115 Federal Street, 02110 1,153,410 n/a
One Federal Street 1 Federal Street, 02110 1,118,355 1976
53 State Street 53 State Street, 02109 1,100,000 1983

Most Recently-Built Office Buildings

in Boston

Office building Address Sqft Year built
Raymond L. Flynn Marine Park - 645 Summer Street 645 Summer Street, 02210 150,000 2017
Suffolk Construction Headquarters - Expansion 65 Allerton Street, 02119 38,000 2017
100 Northern Avenue 100 Northern Avenue, 02210 516,000 2016
888 Boylston Street 888 Boylston Street, 02116 444,900 2016
Boston Landing - 80 Guest Street 80 Guest Street, 02135 297,000 2016
9 Channel Center 9 Channel Center Street, 02127 76,000 2016
101 Seaport 101 Seaport Blvd, 02210 440,000 2015
Van Ness 1325 Boylston Street, 02215 433,000 2015
Longwood Center 360 Longwood Avenue, 02215 414,000 2015
Boston Landing - 100 Guest Street 100 Guest Street, 02135 250,000 2015

Boston, MA Green Office Space

Employment

Of the Top 30 Green Office Markets in the U.S., Boston ranks 14 th for energy-efficient office buildings. While nearly 4% of the office buildings larger than 50,000 square feet are LEED certified, just under 9% rank as Energy Star Certified and nearly 11% are recognized as green buildings.

An outstanding example of a LEED-certified office building in Boston is 100 Cambridge Street. Built in 1965, this nearly 750,000-square- foot office building has attained LEED Gold certification.

It's not just newly-built office buildings that can be energy efficient. Built in 1873, the One Winthrop Square office building in Boston's Downtown Financial District is recognized as a LEED certified green office building. As tenants, national and global investors seek out green certified office assets for their use and portfolios, the green office trend will continue to grow in Boston.

The 2017 National Green Building Adoption Index reviewed commercial office properties in the top 30 U.S. markets. Including EPA Energy Star-labeled buildings, the volume of green certification has increased from less than 5% in 2005 to 38% as of mid-2017. Boston has placed 14th on this survey.

Boston, MA's Top Office-Using Sectors

Finance, education, bio-technology and high-technology all contribute significantly to the economy in Boston and drive demand for white collar employment in the metropolitan area. The Route 128 Corridor and the Greater Boston area continue to attract large amounts of venture capital investment.

  • Finance – The commercial real estate market in Boston sees significant demand for white collar office space from banking and financial services companies such as Fidelity Investments, Bain Capital, and State Street Corporation.
  • Education – Known as the intellectual capital of New England, institutions of higher education in Boston include Harvard, the Massachusetts Institute of Technology, and Tufts.
  • Bio-Technology & High-Technology – Abbott Laboratories, Advanced Cell Technology, Boston Scientific, and the Intel Corporation help drive the demand for Class A office property in the Boston metropolitan area.
  • Corporate Offices – The demand for white collar Class A office space in Boston also comes from countless companies that employ thousands of people, including Hewlett-Packard, Novartis, Philips Electronics, and Vertex Pharmaceuticals.

Boston Demographics

Population

  • Total Population650,281
  • Male Population(48.0 %) 311,843
  • Female Population(52.0 %) 338,438
  • Median Age31.60

Income/Financial

  • Average Household Income$85,374
  • Median Household Income$55,777
  • Median Income Under 25$22,211
  • Median Income 25-44$70,623
  • Median Income 45-64$61,586
  • Median Income Over 65$26,796