Boston Suburban Office Figures Q2 2026

The suburban office market built on its momentum in the second quarter of 2026, posting stronger positive demand. Net absorption totaled a positive 326,682 sq. ft., up from 265,691 sq. ft. in Q1, supported by a notable acceleration in leasing activity to 1,773,343 sq. ft. from 1,147,864 sq. ft. Tenant demand, however, eased to 1.62 million sq. ft. from 1.87 million sq. ft., suggesting that while current leasing converted at a healthy pace, the forward pipeline moderated. On pricing and availability, average asking rents rose quarter-over-quarter, climbing from $28.80 to $29.33 per sq. ft. gross. Availability edged down from 25.9% to 25.8%, while vacancy ticked down slightly from 21.6% to 21.5%, indicating that recent occupancy gains are beginning to translate into incremental balance improvements. Sublease availability rose modestly, increasing from 3.7% to 3.8%, a slight uptick, but remains well below early-cycle levels. Together, these trends underscore a market that is stabilizing with growing momentum, though one still shaped by tenant leverage and selective demand.