Home > Press Releases > RBJ publishes “bioSTATus” — Research report on Greater Boston’s biotechnology real estate market

RBJ publishes “bioSTATus” — Research report on Greater Boston’s biotechnology real estate market

December 19, 2012 Leave a comment Go to comments

Demand For Laboratory Space Was Strong During The Reporting Period, Pushing Market-wide Vacancy Down To 9.7%

BOSTON – December 19, 2012 – Greater Boston’s biotechnology research-focused (laboratory) real estate market has continued a streak of strong results, with market-wide vacancy dropping below ten percent, according to a research publication from Richards Barry Joyce & Partners.

The firm has published bioSTATus – Winter 2013, its semi-annual report highlighting biotechnology real estate.  During the two-quarter reporting period (ended September 30, 2012), laboratory vacancy in Greater Boston dropped from 10.1 percent to 9.7 percent.  The market is in the midst of a six-quarter stretch of positive absorption, in which vacancy has dropped 4.0 percentage points with 410,000 square feet of space absorbed.

“With each passing quarter, we run out of superlatives to describe how the region’s laboratory real estate market has performed,” said Brendan Carroll, senior vice president of research, Richards Barry Joyce & Partners.  “There is a downside to the positive growth, however, as there are notable space constraints in several high-demand submarkets and scant numbers of Class A choices available for users of many sizes.”

The region is home to the largest privately funded commercial construction pipeline in the U.S.  Eleven biotech-related construction projects are currently underway in Boston and Cambridge, representing a total of 3.4 million square feet of laboratory (eight properties; 2.4 million square feet; 82% pre-leased) and office (three properties; 1.0 million square feet; 100% pre-leased) space.  Additionally, nine of world’s ten largest biopharmaceutical firms have a Greater Boston presence.

About bioSTATus
bioSTATus provides the region’s most reliable, accurate and interesting information on the real estate side of the life sciences market.  The report 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, VC funding and public company performance.  The report’s “bioSTATus Monitor” provides a list of important topics to watch during the coming quarters.  The report is released twice a year by Richards Barry Joyce & Partners.

To request a copy of RBJ&P’s bioSTATus – Winter 2013, 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.  Follow us on Twitter at @RBJ_Partners.

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