{"id":40887,"date":"2022-03-14T13:31:44","date_gmt":"2022-03-14T11:31:44","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=40887"},"modified":"2025-11-06T13:03:39","modified_gmt":"2025-11-06T11:03:39","slug":"top-100-most-expensive-office-submarkets-2021","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2022\/03\/14\/top-100-most-expensive-office-submarkets-2021\/","title":{"rendered":"Life Sciences Boom Propels Cambridge, Mass., to 2021\u2019s Most Expensive Office Submarket by Average Sale Price"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong>Key Takeaways:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Several high-profile life sciences asset sales made Cambridge, Mass., the most expensive office submarket of 2021, with an <strong>average price per square foot of office space of $1,560<\/strong>.<\/li>\n\n\n\n<li>The top 10 most expensive office submarkets were split between Boston, Los Angeles, New York City, the Bay Area and Chicago.<\/li>\n\n\n\n<li>California recorded 44 submarkets among the 100 most expensive..<\/li>\n\n\n\n<li>The nationwide average price per square foot of office space was $237 in 2021, up from $233 in 2019.<\/li>\n<\/ul>\n\n\n\n<p>The life sciences subclass of office space has seen considerable growth during the last two years, benefiting from increased digitalization and investor appetite. This means that successful life sciences startups are driving demand for a growing number of specialized office properties.<\/p>\n\n\n\n<p>Our previous ranking of the <a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/03\/16\/most-expensive-office-submarkets-2019\/\" target=\"_blank\" rel=\"noreferrer noopener\">100 most expensive office submarkets<\/a> <strong>by average sale price<\/strong> found that Silicon Valley tech clusters and Manhattan\u2019s most prestigious areas were the nation\u2019s top destination for investment. So, we turned to CommercialEdge transaction data to see the direction that the office market has gone since then and ranked the most expensive office submarkets in the U.S. based on average sale price per square foot in 2021.<\/p>\n\n\n\n<p>We found that <a href=\"https:\/\/www.propertyshark.com\/cre\/office\/us\/ma\/cambridge\/\" target=\"_blank\" rel=\"noreferrer noopener\">office space in Cambridge, Mass<\/a>., was the most expensive in the U.S. in 2021, largely due to several sizable life sciences office sales. The rest of the list includes traditionally pricey areas in California and New York, with several other states also recording entries among the 100 most expensive.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Cambridge, Mass., Overtakes West Coast & NYC Locations to Become Most Expensive Office Submarket in 2021<\/h2>\n\n\n\n<p>As one of the primary hotspots of the life sciences boom, Cambridge, Mass., rose to the top of our ranking for 2021 with a price per square foot of office space of $1,560, which was the result of four high-profile sales. In 2019, the submarket ranked fourth-most expensive, with an average sale price of $1,074 per square foot. Since then, demand for life sciences office space in Boston has outpaced supply, bringing <a href=\"https:\/\/www.cbre.com\/press-releases\/gap-widening-between-supply-and-voracious-demand\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">vacancies as low as 1.1%<\/a>. Cambridge, in particular, was the epicenter of life sciences growth in Boston. Accordingly, property valuations subsequently increased.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-10-Most-Expensive-Submarkets-top-10-map-final.png\"><img loading=\"lazy\" decoding=\"async\" height=\"1280\" width=\"1805\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-10-Most-Expensive-Submarkets-top-10-map-final.png?w=1024\" alt=\"2021's most expensive submarkets for office space\" class=\"wp-image-40890\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-10-Most-Expensive-Submarkets-top-10-map-final.png 3126w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-10-Most-Expensive-Submarkets-top-10-map-final.png?resize=300,213 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-10-Most-Expensive-Submarkets-top-10-map-final.png?resize=768,545 768w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-10-Most-Expensive-Submarkets-top-10-map-final.png?resize=1805,1280 1805w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-10-Most-Expensive-Submarkets-top-10-map-final.png?resize=1536,1089 1536w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-10-Most-Expensive-Submarkets-top-10-map-final.png?resize=2048,1452 2048w\" sizes=\"auto, (max-width: 1805px) 100vw, 1805px\" \/><\/a><\/figure>\n\n\n\n<p>Specifically, two transactions greatly influenced the Cambridge submarket\u2019s high average prices: The <a href=\"https:\/\/42floors.com\/news\/charles-park-boston-office-sale-815-million\/\" target=\"_blank\" rel=\"noreferrer noopener\">purchase of Charles Park by Alexandria Real Estate Equities<\/a> (AREE) in December and MetLife Real Estate Investment\u2019s acquisition of One Memorial Drive in September. Each of the deals totaled more than $2,000 per square foot. Charles Park will reportedly be converted to life sciences space by AREE, while One Memorial Drive is fully leased to two high-value tech tenants: Microsoft and InterSystems.<\/p>\n\n\n\n<p>Elsewhere in the market, <a href=\"https:\/\/www.propertyshark.com\/cre\/office\/us\/ma\/boston\/\" target=\"_blank\" rel=\"noreferrer noopener\">Boston office space<\/a> in the central business district (CBD) sold for an average of $932 per square foot, bringing the submarket to the fourth spot. Meanwhile, the Seaport Innovation District placed eighth, with office space here trading for an average of $820 per square foot. This Boston submarket has experienced considerable growth in the last decade and continues to attract significant investments, such as the $234 million sale of Two Drydock, which is equivalent to a price of $954 per square foot.<\/p>\n\n\n\n<p>Boston was also home to last year\u2019s largest transaction in total sale price \u2014 when AREE purchased the Landmark Center in Fenway for a reported $1.16 billion. The company spent an estimated $1,221 per square foot for the office property, which it plans to redevelop for life sciences tenants.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Beverly_Hills_Overtakes_Silicon_Valley_Tech_Clusters_to_Become_2021s_Second-Most_Expensive_Office_Submarket\"><\/span>Beverly Hills Overtakes Silicon Valley Tech Clusters to Become 2021\u2019s Second-Most Expensive Office Submarket<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In previous years, Silicon Valley\u2019s tech clusters stood out with their high average price tags. However, a Southern California submarket was the state\u2019s highest entry for 2021: Four office properties sold in Beverly Hills brought the submarket\u2019s average price to $1,277 per square foot, making it the most expensive area for <a href=\"https:\/\/www.propertyshark.com\/cre\/office\/us\/ca\/los-angeles\/\" target=\"_blank\" rel=\"noreferrer noopener\">office space in Los Angeles<\/a>.<\/p>\n\n\n\n<p>Nevertheless, some of the Bay Area\u2019s tech hotspots still made the top 10, despite ranking lower. For instance, office space in the Mountain View \u2013 East submarket sold for $831 per square foot, on average \u2014 just ahead of Cupertino, Calif., with $830 \u2014 placing the submarkets in sixth and seventh on the list, respectively. Sunnyvale \u2013 West landed in ninth, with an average sale price of $806 per square foot.<\/p>\n\n\n\n<p>Even so, Silicon Valley is still the uncontested tech capital of the U.S. Several high-profile sales were recorded here last year, including LinkedIn\u2019s $323 million purchase of its own global headquarters in Sunnyvale, which the company previously leased. The nation\u2019s primary tech clusters still ranked slightly lower than they did before the pandemic, although they remain among the most expensive areas in the U.S. for office space.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Manhattan\u2019s Chelsea & Plaza District Make Top 10 Most Expensive Submarkets List; Greenwich Village Home to 2021\u2019s Most Expensive Transaction<\/h2>\n\n\n\n<p>Manhattan\u2019s Chelsea submarket reached the third spot with an average sale price of $1,046 from four sales, overtaking the $858-per-square-foot figure that brought Chelsea up to #9 on our 2019 ranking. Sales recorded here last year included the transaction of 410 10<sup>th<\/sup> Ave., which saw 638,000 square feet of office space change hands for $1,493 per square foot \u2014 the priciest sale in the submarket last year.<\/p>\n\n\n\n<p>Also in Manhattan, the Plaza District office space changed hands for an average of $846 per square foot, which ranked the submarket fifth. Major deals closed here last year included the sale-leaseback of the CBS Building by Harbor Group, in addition to three smaller properties that changed ownership \u2014 576 Fifth Ave., 590 Fifth Ave., and 645 Madison Ave.<\/p>\n\n\n\n<p>The most expensive <a href=\"https:\/\/www.propertyshark.com\/cre\/office\/us\/ny\/manhattan\/\" target=\"_blank\" rel=\"noreferrer noopener\">Manhattan office space<\/a> sale in price per square foot in was 860 Washington \u2014 the only transaction recorded in Greenwich Village last year \u2014 which cost Meadows Partners $2,134 per square foot. Notably, Greenwich Village did not make the list because it had less than three transactions last year.<\/p>\n\n\n\n<p>In the Midwest, an Illinois submarket also cracked the top 10 last year: Chicago\u2019s West Loop saw three sales average out at $804 per square foot. The sale of the smallest property of the three \u2014 1100 West Fulton St. \u2014 resulted in a price per square foot of $935. Nearby, 1K Fulton\u2019s 562,792 square feet of <a href=\"https:\/\/www.propertyshark.com\/cre\/office\/us\/il\/chicago\/\" target=\"_blank\" rel=\"noreferrer noopener\">Chicago office space<\/a> sold for $354.75 million or $630 per square foot.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"California_Submarkets_Dominate_Ranking_with_44_of_100_Entries\"><\/span>California Submarkets Dominate Ranking with 44 of 100 Entries<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>California was home to 44 of the nation\u2019s 100 priciest office submarkets, up from the 36 entries it landed in our 2019 ranking. California also recorded a statewide average price of $379 per square foot of office space \u2014 the third-highest among all states.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-100-Submarkets-entries-per-state-map.png\"><img loading=\"lazy\" decoding=\"async\" height=\"1280\" width=\"1805\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-100-Submarkets-entries-per-state-map.png?w=1024\" alt=\"Expensive submarkets by state\" class=\"wp-image-40891\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-100-Submarkets-entries-per-state-map.png 3126w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-100-Submarkets-entries-per-state-map.png?resize=300,213 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-100-Submarkets-entries-per-state-map.png?resize=768,545 768w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-100-Submarkets-entries-per-state-map.png?resize=1805,1280 1805w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-100-Submarkets-entries-per-state-map.png?resize=1536,1089 1536w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/Top-100-Submarkets-entries-per-state-map.png?resize=2048,1452 2048w\" sizes=\"auto, (max-width: 1805px) 100vw, 1805px\" \/><\/a><\/figure>\n\n\n\n<p>Southern and Northern California were relatively evenly split in number of pricey areas. Los Angeles was the site of 16 of the nation\u2019s most expensive submarkets, while the Bay Area was home to 20 \u2014 three in downtown San Francisco and 17 elsewhere in the metro. Orange County also recorded four entries, with the Inland Empire adding two. San Diego and the Central Coast both had one submarket among the 100 most expensive: Sorrento Valley with an average price of $441 and Goleta with $263 at #36 and #92, respectively.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Florida & Arizona Trail California in Number of Expensive Submarkets<\/h2>\n\n\n\n<p>Nine Florida submarkets ranked among the nation\u2019s 100 most expensive last year. Of these, the best positioned was Miami\u2019s central business district, which landed in 28th with an average office sale price of $504 per square foot. Next, downtown West Palm Beach ranked 32nd ($488 per square foot), and the Weston submarket in Fort Lauderdale took 47th place ($382). Boca Raton and Tampa also recorded expensive submarkets among the 100 most expensive. At $213 per square foot, Florida had a significantly lower statewide price than California.<\/p>\n\n\n\n<p>Arizona was up next with seven submarkets out of 100, the most expensive of which was North Gateway in Phoenix. It ranked 60th on our list, with an average price of $329 per square foot. The remaining six entries from the state were all located in the Valley of the Sun, including Peoria, Deer Valley, Gilbert, Chandler and Scottsdale\u2019s South and Airpark submarkets.<\/p>\n\n\n\n<p>Office assets in Arizona traded for an average price of $209 per square foot, which was slightly cheaper than Texas, where office sales averaged $212 per square foot last year. The Lone Star was home to four of the country\u2019s most expensive office submarkets: <a href=\"https:\/\/www.propertyshark.com\/cre\/office\/us\/tx\/austin\/downtown-austin\/\" target=\"_blank\" rel=\"noreferrer noopener\">Office space in downtown Austin<\/a> sold for an average of $612 per square foot; Northwest Austin sales averaged $364 per square foot; sales in Far West San Antonio closed for $294 per square foot, on average; and office property in East Dallas traded for an average of $270 per square foot.<\/p>\n\n\n\n<p>Next up, Massachusetts, Washington state and North Carolina tied with six entries each in the top 100. All Massachusetts submarkets were from the Boston area, with downtown Boston ($436 per square foot); Medford-Malden ($421); and Route 128 Central ($336) also making the list, in addition to the entries among the top 10 most expensive.<\/p>\n\n\n\n<div class=\"infogram-embed\" data-id=\"67375921-7861-4e19-8339-4fafacd85aff\" data-type=\"interactive\" data-title=\"Statewide Average Price Per Square Foot of Office Space\"><\/div><script>!function(e,i,n,s){var t=\"InfogramEmbeds\",d=e.getElementsByTagName(\"script\")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(\"script\");o.async=1,o.id=n,o.src=\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\",d.parentNode.insertBefore(o,d)}}(document,0,\"infogram-async\");<\/script>\n\n\n\n<p>Similarly, four of the North Carolina entries were in Charlotte, whereas two hailed from the Carolina Triangle area. The state\u2019s most expensive submarket last year was Charlotte\u2019s Midtown \u2013 South End, where office property sold for an average price of $464 per square foot.<\/p>\n\n\n\n<p>In the Pacific Northwest, statewide average prices in Washington outpaced even those in California, reaching $392 across 67 transactions. The six Washington state submarkets were all from the Seattle metro: The city\u2019s CBD (#15), Bellevue (#17), Northern Seattle (#18), Belltown (#20), the I-90 Corridor (#41) and Bothell (#79). The high average prices seen in Washington state may stem from the fact that the entire Seattle metro is also a top life sciences destination, bringing up the state\u2019s baseline average sale price considerably. In comparison, California\u2019s situation is more nuanced, with the state\u2019s more expensive office submarkets being counterbalanced by less expensive, secondary areas in locations such as Sacramento and the Central Valley.<\/p>\n\n\n\n<p>Only one submarket within the District of Columbia proper made the list \u2014 D.C.\u2019s CBD at #54 with an average sale price of $353. However, two other submarkets in the Washington, D.C. metro area also made the list: Arlington\u2019s Virginia Square at #38 and North Rockville, Md., at #97.<\/p>\n\n\n\n<div class=\"infogram-embed\" data-id=\"3da6cc8d-c8d7-416c-9662-17052b00bb85\" data-type=\"interactive\" data-title=\"Top 100 Most Expensive Submarkets of 2021\"><\/div><script>!function(e,i,n,s){var t=\"InfogramEmbeds\",d=e.getElementsByTagName(\"script\")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(\"script\");o.async=1,o.id=n,o.src=\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\",d.parentNode.insertBefore(o,d)}}(document,0,\"infogram-async\");<\/script>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Methodology\"><\/span>Methodology<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>To determine the most expensive submarkets in the U.S., we looked at office transactions closed between <strong>January 1, 2021<\/strong> and <strong>December 31, 2021<\/strong>, according to data provided by CommercialEdge as of <strong>February 10, 2022<\/strong>.<\/p>\n\n\n\n<p>Our study included sales of individual properties, as well as portfolio sales where the price for each individual office property was known. For data accuracy, only portfolio deals where all properties were located within the same submarket were included. Portfolio deals were counted as a single transaction, with the average price per square foot in their case being calculated by dividing the total sale price by the total square footage of the portfolio.<\/p>\n\n\n\n<p>Properties smaller than 25,000 square feet were excluded.<\/p>\n\n\n\n<p>Statewide average prices were calculated based on all transactions for office properties larger than 25,000 square feet, including those in submarkets that did not make the ranking.<\/p>\n\n\n\n<p>To eliminate outliers due to low sample sizes, only submarkets with at least three transactions in 2021 were included in our study. Delimitations of markets and their respective submarkets are based on proprietary CommercialEdge delineations determined by its real estate professionals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cambridge, Mass., overtook top destinations in California and New York City to become 2021&#8217;s most expensive submarket for office space. The boom experienced by the life sciences sector in recent years has likely contributed to this development, as several high-profile office sales in the Boston metro were tied to life sciences landlords.<\/p>\n","protected":false},"author":71,"featured_media":41043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11119,8245,8283],"tags":[11132,11109,494,11171],"class_list":["post-40887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate","category-market-studies","category-national","tag-boston-commercial-properties","tag-california-commercial-properties","tag-commercial-real-estate","tag-old-study"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cambridge, Mass., Becomes 2021&#039;s Most Expensive Office Submarket<\/title>\n<meta name=\"description\" content=\"Overtaking areas such as LA&#039;s Beverly Hills and NYC&#039;s Chelsea, Cambridge became 2021&#039;s priciest submarket amid several major office sales.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2022\/03\/14\/top-100-most-expensive-office-submarkets-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Life Sciences Boom Propels Cambridge, Mass., to 2021\u2019s Most Expensive Office Submarket by Average Sale Price\" \/>\n<meta property=\"og:description\" content=\"Overtaking areas such as LA&#039;s Beverly Hills and NYC&#039;s Chelsea, Cambridge became 2021&#039;s priciest submarket amid several major office sales.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2022\/03\/14\/top-100-most-expensive-office-submarkets-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-14T11:31:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-06T11:03:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/most-expensive-submarkets-office-cambridge-featured2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lucian Alixandrescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta 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NYC's Chelsea, Cambridge became 2021's priciest submarket amid several major office sales.","og_url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2022\/03\/14\/top-100-most-expensive-office-submarkets-2021\/","og_site_name":"PropertyShark Real Estate Blog","article_published_time":"2022-03-14T11:31:44+00:00","article_modified_time":"2025-11-06T11:03:39+00:00","og_image":[{"width":1920,"height":1280,"url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/most-expensive-submarkets-office-cambridge-featured2.jpg","type":"image\/jpeg"}],"author":"Lucian Alixandrescu","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Lucian Alixandrescu","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2022\/03\/14\/top-100-most-expensive-office-submarkets-2021\/#article","isPartOf":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2022\/03\/14\/top-100-most-expensive-office-submarkets-2021\/"},"author":{"name":"Lucian Alixandrescu","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#\/schema\/person\/8dcdbe23ce3338721621dd397997da66"},"headline":"Life Sciences Boom Propels Cambridge, Mass., to 2021\u2019s Most Expensive Office Submarket by Average Sale Price","datePublished":"2022-03-14T11:31:44+00:00","dateModified":"2025-11-06T11:03:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2022\/03\/14\/top-100-most-expensive-office-submarkets-2021\/"},"wordCount":1807,"image":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2022\/03\/14\/top-100-most-expensive-office-submarkets-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2022\/03\/most-expensive-submarkets-office-cambridge-featured2.jpg","keywords":["boston commercial properties","california commercial properties","commercial real estate","old study"],"articleSection":["Commercial Real Estate","Market 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