In the fourth quarter of 2024, Greater Boston experienced a significant surge in office sale volume, reaching $708 million. This is the highest quarterly total since Q1 2022, according to Avison Young’s report on the Greater Boston Office Market. The decrease in property values has led to an increase in transaction activity as opportunistic investors and users gain confidence and seek out discounted assets.
Over the course of 12 months, there were a total of 60 office trades across the region. The majority fell into two price ranges: $1.0 – $2.1 million and $4.5 – $9.5 million.
A major factor driving this increased activity was the sale of high-vacancy office buildings in northern suburbs such as Chelmsford’s properties at 199 &201 Riverneck Rd., Malden’s75 Pleasant St., Lowell’s10 Technology Dr., and Billerica’s4 Federal St.. According to Avison Young, investors and users are eager to acquire these properties that are currently trading at low prices.
Pictured above is75 Pleasant St.in Malden, MA.
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