Signs of Life in Boston Biotech CRE
Little tiny green shoots are poking up here and there, with leasing activity running well ahead of 2024 totals and the pace of vacancy growth slowing down.
Boston Launches New Ferry to Flynn Marine Park
Commuters on the MBTA’s regional rail system just got an option to add a little more fluidity to their commute. And Seaport landlords just got a new amenity to promote to potential tenants.
Lender Buys Fort Point Lab Conversion for $57M
Starwood Property Trust acquired a Fort Point office building that was converted into lab space by the previous owners for $57.2 million.
As Labs, Offices Struggle, Massport Open to Renegotiating Ground Leases
Massport is sounding out landlords who ground-lease its properties about modifying terms, reflecting the difficult commercial real estate climate in Boston.
Vertex HQ Renewal Deals Blow to Lab Projects
Vertex Pharmaceuticals’ headquarters move to the Fan Pier in 2014 put Boston’s Seaport District on the map as a life science industry destination. Vertex’ reported decision to remain at the Fan Pier beyond 2028 deals a blow to a growing list of major lab projects still seeking tenants in the neighborhood.
Cambridge Retains Lab Market Lead
Life science landlords continue to enjoy the upper hand in Greater Boston as the vacancy rate for the nearly 35 million-square-foot lab market remains below 3 percent, according to Colliers International research.
Related Beal Adds Biotech Firm to South Boston Complex
A Cambridge biotech firm that announced plans last month for a $40-million IPO is joining the life science cluster at Related Beal’s 451 D St. in South Boston.
Seaport, Suburbs Benefit from Cambridge Lab Spillover
Asking rents for lab space are topping $116 per square foot in East Cambridge and approaching triple digits in Boston’s Seaport District, according to a brokerage research report.
