Wary tenants drive office rents down

“Clearly, the demand has slowed, but there’s still demand for space out there,” said David Begelfer, president of the National Association of Industrial and Office Properties of Massachusetts.

But until recently, the market for Class A office space was sizzling in Boston, with some rent requests spilling over the $90 per-square-foot mark.

Now, rents have come back to earth, stabilizing in the past month in the $70-$85 range, as economic news has grown more grim nationwide and as some larger companies worry where the economy is going.