A strong pre-pandemic laboratory market
A February 2020 Boston City Properties article examined laboratory demand across Greater Boston. It discussed growth in life-sciences firms, venture-capital activity and competition for specialized space, particularly in Cambridge and the Seaport.
The account reported Seaport asking rents of approximately $76 per square foot in 2019, a 29.4 percent increase, and about 408,000 square feet of absorption. It separately cited a regional average near $67 per square foot, roughly 6 percent vacancy and about 3.1 million square feet under construction. These measures described different geographic areas and should not be treated as one building’s rental terms.
A pipeline, not guaranteed occupancy
Assembly-area development, Boston Landing and North Station appeared as examples of interest spreading beyond the best-known laboratory clusters. The report also discussed national construction growth; national totals were not the same as Boston’s pipeline.
The article captured a moment when developers expected continued demand. Asking rents, absorption and space under construction are different indicators, and none alone proves future lease-up. The historical snapshot does not establish current laboratory availability, operating suitability or a return on investment.
Historical attribution: Original Boston City Properties article, February 2020. Reported claims and attributed assessments have not been independently refreshed.
