MARKET TRENDS

• Leasing activity gained momentum this quarter, led by Blitzy’s and Anthropic’s leases at 1 Kendall Square, signaling a growing artificial intelligence presence in Cambridge’s office market.
• Average asking rents edged up to $78.87 per square foot (psf), remaining relatively stable as leasing activity reached its highest volume since late 2022.
• Availability rose to 26.2% despite stronger leasing activity, driven by a combination of direct and sublet listings. A sustained recovery will require continued demand.

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