Often overshadowed by its record-breaking prices for lab properties, Cambridge’s office market ranked among the nation’s priciest in 2019.
With average investment sales of $1,074 per square foot, Cambridge trailed only Silicon Valley, Manhattan’s Plaza District and Santa Monica, California, according to a report by Commercial Cafe.
Two downtown Boston submarkets ranked 16th and 21st with average prices of $664 and $529 per square foot.
Statewide, Massachusetts ranked sixth with average prices of $260 per square foot, compared with the national average of $223.
The report analyzed office transactions larger than 25,000 square feet that closed between Jan. 1 and Dec. 31, 2019.