Market Highlights

• Vacancy declined to 30.8%, down 300 basis points (bps) from 33.8% in Q3 2024. Meanwhile, total available space dropped to 0.6 million square feet (msf), down 0.5 msf, or about 45.0%, from 1.1 million sf in Q3 2024.
• While sublease space on the market remains limited, blocks between 20,000 and 50,000 sf account for 75.0% of the total available sublease space.
• Amid funding cuts, venture capital (VC) funding in 2025 year to date has reached only 46.7% of 2024’s total of $5.0 billion, while NIH funding has remained stable.

Read the full report