Lab Tenant Demand Rebounds, as Leasing Gravitates to Suburbs
Demand for lab space rebounded in recent weeks, but much of life science tenants’ leasing activity gravitated to suburban properties rather than the East Cambridge industry epicenter.
Demand for lab space rebounded in recent weeks, but much of life science tenants’ leasing activity gravitated to suburban properties rather than the East Cambridge industry epicenter.
IQHQ burst onto the Boston real estate scene in 2021 with a series of big-ticket plans for new lab developments in unproven locations. But those contrarian bets ran headlong into a big life science slowdown.
Developers received approval from the Boston Planning and Development Agency for lab projects in the Fenway and Government Center, a mixed-use waterfront project in Dorchester and 295 housing units across the city.
The latest proposals for nearly 800,000 square feet of life science development in the Fenway are designed to meet the city of Boston’s goal of weaning commercial development off reliance on fossil fuels.
Life science developer IQHQ is proposing its second major project in the Fenway neighborhood with plans for a 250,000-square-foot office-lab building at 109 Brookline Ave.
One of Greater Boston’s fastest-growing life science landlords has another $1.7 billion to spend on acquisitions.
A newly-formed REIT that recently raised $770 million for acquisitions in Greater Boston and other life science hubs has made another local acquisition.
An office building leased to three hospitals and a tech startup has been sold for $270 million in Boston’s Fenway neighborhood to IQHQ, a life science REIT.