MARKET TRENDS

• The majority of Boston’s robust construction pipeline has now delivered, with product under construction down 7.1 million square feet (msf) year over year.
• Following 3.4 msf of deliveries in the first quarter, the vacancy rate has risen to 8.1%, marking a new high for the fifth consecutive quarter.
• Looming uncertainty and macroeconomic headwinds continue to weigh on leasing activity, with most exceptions occurring in build-to-suit projects or renewals.

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