Vacant office space in Boston increased by 1.5 million square feet during 2009 resulting in a vacancy rate of 13.5%, according to a report by Colliers Meredith & Grew. The pace slowed in the fourth quarter but was still negative with 271 thousand square feet of newly vacated office space. Occupied space in Greater Boston, including Cambridge and suburbs, decreased by 4.4 million square feet during 2009 resulting in a vacancy rate of 18.4%.
Colliers Meredith & Grew market snapshot can be viewed here (pdf).