RBJ Releases “bioSTATus – Winter 2012”

Research Publication Shows Decrease In Laboratory Vacancy Rates As Market Tightens And New Construction Projects Get Underway

BOSTON – November 30, 2011 – Greater Boston’s biotechnology real estate market continues its positive trend, with vacancy rates down across the market, according to bioSTATus – Winter 2012, a new research publication from Richards Barry Joyce & Partners.

According to the report, which is released twice a year, Greater Boston’s biotech real estate market consists of 16.3 million square feet of laboratory space, which was 13.1 percent vacant (as of September 30, 2011).  The vacancy rate is down from 13.7 percent at the end of the last two-quarter reporting period.  While the vacancy rates are low, the figures may not tell the whole story, as space is extremely limited in certain submarkets.

“Laboratory space is extremely scarce for most users in most size groups in the highly desired areas of East Cambridge, Boston’s Longwood Medical Area and the Route 128 West submarket,” said Brendan Carroll, senior vice president of research for Richards Barry Joyce & Partners.  “One of the top biotech real estate concerns going into 2012 is the lack of tenant choice in the market and resulting constrained growth.  It’s the downside of having such a strong biotech cluster in the region.”

Another significant trend for the region’s biotechnology real estate market is the impact of large, singular absorption events.  In Boston and Cambridge, four major biotech construction projects commenced during 2011, totaling 1.7 million square feet of laboratory and office space.  The projects make Boston one of the nation’s most active current development areas.

bioSTATus includes a chart with all the pertinent real estate statistics (vacancy, market size, availability, absorption), as well as in-depth analysis of the broader trends facing Greater Boston’s biotechnology market, including hiring information and venture capital funding.  Venture capital invested in Massachusetts biotechnology companies again bested levels for their Silicon Valley counterparts for the combined Q2 and Q3 period.  The report’s “bioSTATus Monitor” provides a list of important topics to watch during the coming quarters.

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 – Winter 2012, please send an email to research@rbjrealestate.com.

RBJ&P’s Research Publications

Richards Barry Joyce & Partners produces an industry-leading 42 reports per year, in addition to custom research projects for clients.  bioSTATus is released twice a year and there are ten quarterly research reports:  officeSTATus is the flagship report on the office market; indSTATus highlights warehouse, manufacturing and flex property types; and individual marketSTATus reports showcase eight critical sub-markets.

About Richards Barry Joyce & Partners, LLC

Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.