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For owners of Boston commercial space, 2020 was a year of bifurcation.
The coronavirus pandemic affirmed life sciences' place as the dominant force driving major leasing activity in Boston and nearby suburbs, with anchor tenants securing significant footprints at incoming projects.
But only four office deals topped 75K SF in downtown Boston, the lone bright spots in a rough year marked by rising vacancies, skyrocketing sublease space and employers largely mandating remote work.
“We’re beyond levels we saw in the tech bust,” Colliers Boston Director of Research Aaron Jodka said, noting sublease space in downtown is at a level beyond the Great Financial Crisis of 2008. “That’s probably a better comparison in terms of vacancy.”
Here are the largest 10 lease deals from 2020 in Boston, Cambridge and their immediate suburbs, compiled using data from Newmark, Lincoln Property Co., Colliers and Cushman & Wakefield.
Bristol Myers Squibb
Location: Cambridge CrossingSize: 360K SFLandlord: DivcoWestType: New leaseThe year's largest deal came in the midst of the pandemic, with New York-based BMS signing this deal for office and lab space in August. BMS is heading to the project at 250 Water St., which is expected to…
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