Absorption of office space in Boston H1 2023, by district
Allston/Brighton and Charlestown were the only districts in Boston with positive net absorption in the office real estate sector in the first half of 2023. A negative net absorption means that more space was vacated or supplied than absorbed. In Boston's Downtown District office market, the amount of space that became available was close to 934,000 feet more than the space newly occupied. Negative absorption is a sign of declining demand for offices. Across the U.S. many of the major markets were impacted by this trend.
