Home > Press Releases > bioSTATus: Greater Boston Biotechnology Real Estate Market Remains Strong, With Vacancy At 10.0 Percent

bioSTATus: Greater Boston Biotechnology Real Estate Market Remains Strong, With Vacancy At 10.0 Percent

Richards Barry Joyce & Partners Publishes “bioSTATus – Summer 2013”, Semi-Annual Research Publication On Market

BOSTON – June 24, 2013 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, has published “bioSTATus – Summer 2013”, the firm’s semi-annual research report of Greater Boston biotechnology real estate market.

According to the firm, biotechnology-related real estate remains in very strong demand in Greater Boston.  Since 2010, 3.9 million square feet of laboratory space has been taken off the market by the region’s numerous life sciences companies.  This quarter, vacancy stands at 10.0 percent, a level widely considered the benchmark of a strong market.

Brendan Carroll, Sr. Vice President

Brendan Carroll, Sr. Vice President

Commenting on the vacancy rate, Brendan Carroll, RBJ’s senior vice president of research, noted, “The 10 percent figure may actually ‘feel’ a bit lower to companies looking for quality laboratory space.  Most areas are unable to accommodate tenants in many size ranges, as evidenced by zero vacancy in Class A product in 128 West and 1.6 percent vacancy in Boston.  In other words, it’s a very tight 10 percent.”

Cambridge has reasserted its dominant regional position, after seeing the rise of the suburbs as a biotech destination.  During the current two-quarter reporting period, Cambridge commanded an impressive 87 percent of all regional demand.  However, another competitor has appeared for Cambridge to contend with – demand for office space in East Cambridge, particularly for high tech users, has surged recently.

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 – Summer 2013, please send an email to research@rbjrealestate.com.

RBJ&P’s Research Publications
Richards Barry Joyce & Partners produces an industry-leading 46 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 nine 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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