Cambridge Office Figures Q3 2026

Cambridge’s office market showed early signs of stabilization in Q3 2026. Net absorption turned positive at 18,445 sq. ft., the first gain since Q1 and a sharp reversal from a 520,885 sq. ft. loss in Q2. Vacancy edged down 20 basis points to 26.7% and availability slipped to 29.1%, but both remain well above year-ago levels of 22.9% and 25.4%. 

Submarkets diverged. East Cambridge, home to most large-block space, has yet to post a positive quarter in 2026. It lost 42,388 sq. ft. in Q3 (versus 527,732 sq. ft. in Q2), and availability rose to 30.8%. Mid Cambridge led the market with 56,524 sq. ft. of absorption. Leasing fell to 145,261 sq. ft. from 429,589 sq. ft. in Q2, which one large East Cambridge deal had skewed. Smaller deals dominated, and AI companies drove demand: Blitzy signed the largest lease at 53,000 sq. ft. in Kendall Square, followed by Suno at 36,000 sq. ft. in Harvard Square and Anthropic at 24,000 sq. ft. in Kendall Square. The construction pipeline is empty, and office-to-residential conversions are emerging but lag Boston. CBRE expects leasing to stay uneven, with recovery tied to business confidence and return-to-office trends.