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Back Bay Gains in Absorption Race

BOSTON-The Financial District saw 52,000 sf in negative absorption during the second quarter of 2006 while across town, the Back Bay gained 53,000 sf in positive absorption.

By Beverly Ford | Updated on August 22, 2006

(To read more on the net lease market, click here.)

BOSTON-Two office markets just across town from each other experienced differing absorption rates during the second quarter of 2006, with the Back Bay gaining in absorption what the Financial District lost.

According to a study prepared by Richards Barry Joyce and Partners of Boston, the Back Bay had a positive absorption rate of 53,000 sf in the second quarter, which lowered vacancy rates in that neighborhood to 10.4%, a 0.4% drop over the same period last year. In the Financial District, a 52,000-sf negative absorption rate pushed vacancy up slightly by 0.1% to 12.7% for the quarter.

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