Metro Boston Biotech Beat | Q4 2017
The Greater Boston lab market experienced another impressive year of growth; posting nearly 650,000 square feet in net absorption and an eighth straight quarter of sub-5% vacancies. Cambridge continues to dominate activity, accounting for the lion’s share of absorption over the past 12 months. While demand continues to outstrip supply, space constraints are limiting absorption gains and weighing on leasing activity. Expansions and relocations are still happening throughout Greater Boston though, with lab users in Cambridge focusing on full-floor commitments. Looking ahead to 2018 we see several themes maintaining prominence. Cambridge’s lab market will remain incredibly tight. Tenants looking to expand have few options and will continue to explore new construction or availabilities in Boston and the Suburbs. Leasing has been brisk in these new developments, which bodes well for net absorption. Read more in our Q4 Biotech Beat.