Boston and Cambridge lab rents reported in 2015
The original Boston City Properties article attributed its figures to JLL’s 2015 Life Sciences Outlook. It reported a 7.4% increase in Boston-area life sciences rental rates and an average of $47.40 per square foot. Cambridge’s reported average was higher, at $51.60 per square foot. These are historical figures, not current asking rents. The article did not explain the rent calculation basis, lease term or expenses included.
It described companies seeking more than 1.3 million square feet in the area and more than 17 million square feet of lab space across Boston. Its wording did not clearly distinguish total lab inventory from vacant space. Those figures should not be treated as a count of immediately available laboratories. The article attributed Cambridge demand to research infrastructure and access to workers; it did not establish suitability for a particular business.
The other markets in the comparison
The source reported San Francisco at $37.30 per square foot, up 16.9%; Los Angeles at $30.70, up 4.9%; San Diego at $29.90, up 15.5%; New York/New Jersey at $24, up 8.3%; and Raleigh-Durham at $19, up 12.4%. These comparisons describe the 2015 report, not today’s ranking of life sciences markets.
Ask about space for your business
Tell Amo Realty’s Boston City Properties team your preferred municipality, space needs, intended work, budget and timetable. Ask about the suitability and terms of each property rather than estimating a current lease from this archived report.
