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The amount of lease-available life science space in Boston has increase to an overall availability rate of 8%, according to Colliers.

CBRE, Colliers Research Finds Glass Half-Full Perspectives for Boston’s Life Science Market

Market fundamentals remained dynamic as headwinds persisted through the end of 2022 in the Greater Boston life science market, according to CBRE’s Boston Metro Life Sciences Figures Q4 2022 Report.

The economic environment has had a significant impact on demand, as current demand remains lower than 2021 levels, while supply has continued to increase with new construction and conversions. Across the Boston metro area, private companies have put growth needs on hold as funding has become harder to secure and preserving cash and extending one’s runway remains a top priority.

Meanwhile, Colliers’ 22Q4 Boston Lab Market Report finds that the Boston area continues to appeal to life science companies at all stages, and these firms are landing substantial venture capital/pre-IPO investments. With about $9 billion brought in by 200-plus local companies, 2022 was a healthy fundraising year for life sciences.

Colliers also notes Boston’s leasing conditions as shifting in favor of tenants. The amount of available space has increased to an overall availability rate of 8%, seven percentage points higher than its 2021 low point. Sublease space at record-high levels has attracted companies looking for short-term solutions. Rising vacancies are reducing upward pressure on rents.

Download the CBRE report

Download the Colliers report


Inside The Story

Collers' Jeffrey MyersCBRE's Suzanne Duca

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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