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Greater Boston Biotech Market Highlighted In New Research

November 4, 2011 Leave a comment Go to comments

“bioSTATus – Summer 2011” Shows Zero Vacancy In Some Suburban Locations, Strength Across Most Of Region

BOSTON – May 26, 2011 – Richards Barry Joyce & Partners has published bioSTATus – Summer 2011, a report highlighting the real estate aspect of Greater Boston’s critical biotechnology industry.

Greater Boston’s biotechnology real estate market is very strong, according to the report, with 13.7% vacancy across the entire region’s 16.3 million square feet of laboratory space.  Certain areas of the market are extremely space constrained, with the suburban biotech cluster of Framingham-Lexington-Waltham at a startling vacancy rate of 0.0%.

The East Cambridge market, long considered the absolute center of Greater Boston’s biotech market, has recently seen an increase in non-biotech space users, such as software/technology companies and non-biotech users of lab space.  bioSTATus also looks at the real estate impact of Vertex Pharmaceuticals’ planned move from Cambridge to Boston’s Seaport District, as well as the effect of moves by other large biotech companies, such as Biogen Idec and Sanofi SA (Genzyme).

Additionally bioSTATus provides all the pertinent real estate statistics (vacancy, market size, availability, absorption), and also provides insight into the broader trends facing Greater Boston’s biotechnology market, including hiring information and venture capital funding.

“Greater Boston’s biotechnology real estate market is very strong, with a vacancy rate that is somewhat misleading in that it doesn’t display the limited availability in certain high-demand areas,” said Brendan Carroll, senior vice president of research, Richards Barry Joyce & Partners. “Looking forward, we anticipate a tremendous amount of activity with some of the region’s largest biotechnology players having announced relocations.  These moves will affect not only those companies and landlords but have a domino effect by opening up availability in this space-constrained market.”

About bioSTATus
bioSTATus is the region’s most influential research publication covering real estate for the critical biotechnology market.  The report is released twice a year and delivers critical real estate statistics (vacancy, market size, availability and absorption) and offers updates on each of the primary submarkets (Cambridge, Boston and the suburbs).

To request a copy of RBJ&P’s bioSTATus – Summer 2011, please send an email to research@rbjrealestate.com.

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