Boston has approximately 80 million square feet of commercial space, driven by life sciences, biotech, finance, and higher education. The Cambridge life sciences corridor (Kendall Square area) commands among the highest lab rents in the world. Traditional office markets in the Financial District and Back Bay are Class A FSG. The Seaport District is a high-growth mixed-use submarket with newer Class A buildings.
By Angel Campa, Founder · Updated March 2026
Commercial Space
80M sq ft
Avg Office Rent
$60–$90/sq ft
Vacancy Rate
18%
Avg Lease Term
7–12 years
Boston CBD office leases are FSG with base year expense stops. Cambridge life sciences leases are frequently NNN or Modified Gross with above-market TI allowances ($200–$400/sq ft) for lab buildouts. Lab leases include specialized provisions for hazmat, exhaust systems, and generator capacity that standard office abstraction templates miss. Lextract extracts permitted use and TI provisions critical for lab lease analysis.
Massachusetts Landlord–Tenant Guide
State-specific commercial lease laws, notice periods, and tenant rights for Massachusetts →
Lab and life sciences leases include specialized buildout provisions, hazmat storage rights, exhaust system requirements, and above-market TI packages. These provisions are buried in technical addenda and require careful extraction to understand total occupancy cost.
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