BOSTON, Dec. 16, 2013 /NEWS.GNOM.ES/ –Transwestern | RBJ today announced it published “bioSTATus – Winter 2014,” the firm’s semi-annual report on Greater Boston’s biotechnology real estate market. According to the report, vacancy in the region’s biotechnology real estate market dropped to 9.3 percent. The vacancy rate during the two-quarter reporting period (ending Sept. 30, 2013) is down from the preceding period’s 10 percent level, which is widely held to be the indicator of a strong market.
During the current period, tenants drove 550,000 square feet of negative take-up of laboratory space. The figure would have been positive had it not been for two significant consolidations that totaled more than 900,000 square feet of space. Take-up is a more timely measurement than absorption; for example, it tracks availability changes right when leases are signed, users break ground on new projects or when space is made available when companies announce plans to vacate a location.
“The ‘bioSTATus’ results took place during a very active period of IPOs, collaboration and partnerships,” said Brendan Carroll, senior vice president, Transwestern | RBJ. “And despite the seemingly mixed results, the region’s dominance in the biotechnology industry continued to drive demand for laboratory space, driving vacancy down.”
ABOUT “BIOSTATUS”
“bioSTATus” provides the region’s most reliable, accurate and interesting information on the real estate side of the life sciences market. The report includes all the pertinent real estate statistics (vacancy, market size, availability, absorption) in chart form, as well as in-depth analysis of the broader trends facing Greater Boston’s biotechnology market, including hiring information, venture capital funding and public company performance. The report’s “bioSTATus Monitor” provides a list of important topics to watch during the coming quarters. The report is released twice a year by Transwestern | RBJ.
To request a copy of the “bioSTATus – Winter 2014″ report, please send an email to [email protected].
ABOUT TRANSWESTERN | RBJ’S RESEARCH PUBLICATIONS
Transwestern | RBJ produces an industry-leading 42 reports per year, in addition to custom research projects for clients. “bioSTATus” is released twice a year, and there are ten quarterly research reports: “officeSTATus” is the flagship report on the office market; “indSTATus” highlights warehouse, manufacturing and flex property types; and individual “marketSTATus” reports showcase nine critical sub-markets.
ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern.
In November 2013, Transwestern acquired Richards Barry Joyce Partners, creating Transwestern | RBJ. For more information, please visit www.transwestern.net/Boston and follow us on Twitter: @TranswesternBOS.
Media Contact:
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SOURCE Transwestern | RBJ
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