Summer 2020
Biostatus is a special, quarterly publication from Cushman & Wakefield’s Boston office characterizing the condition of Greater Boston’s laboratory real estate market. Also see Officestatus (office), Logistatus (warehouse), and Transtatus (smart growth).
all data as of or for the quarter ended June 30, 2020 current until September 30, 2020
@BOSqFt
bioSTATus The Greater Boston biotechnology-focused laboratory market remains highly active as of the second quarter of 2020 despite significant impacts to most other areas of economic activity relating to the COVID-19 pandemic. Biotech industry occupants are operating with a heightened appreciation of needs for next-generation diagnostics, therapies and vaccines. Several large lease transactions with significantly more than one million SF of implied demand are in active negotiation with likely 2020 executions as drug discovery is not easily conducted through remote work practices. A growing roster of lab property owners now includes California-based IQHQ, having acquired significant assets in Andover and in Cambridge, in the quarter. Developers are working to add stock in East Cambridge and activity has significantly accelerated in Watertown, with its proximity to both urban and suburban talent pools.
+124K
4.5%
$89
Q2’2020
Q2’2020
Q2’2020
take-up*
*take-up inventory, including under construction product, less availability
vacancy
cl a rents**
**calculated off executed lease transactions, Boston & Cambridge only
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