The lab market in the suburbs of Greater Boston were the only area that experienced an increase in occupied space last year, according to a new report from real estate firm, Jones Lang LaSalle.
The suburbs were the one bright spot in what was a dismal year for the state’s commercial real estate market. The suburbs experienced 168,927 square feet of positive absorption.
Meanwhile, Cambridge posted a negative absorption of 12,401 square feet and Boston experienced negative absorption of 66,956 square feet. Absorption is the real estate term for positive and negative changes in occupied space.
Source: Boston Business Journal