As one of the most rapidly-growing BioPharma ecosystems in the United States, Boston is home to more than 550 active companies and 74,000 people employed in the life sciences industry.
With that continual growth comes an incredibly tight real estate market. Cambridge—specifically Kendall Square—is ground zero for life science companies, and where the market is the most competitive. Small startups, growth-mode companies, and some of the largest BioPharma companies in the world compete for space with other large firms, like Google, Amazon, and Microsoft.
Because the market has gotten so tight, companies often make reactionary decisions. They’ll take space just because it’s available—even if it hasn’t been properly vetted, or it can’t be built out to accommodate their science.
T3 recently partnered with The Bowdoin Group, an executive search firm, to publish an in-depth report on the current state of Boston real estate for BioPharma companies. The report details how Boston’s real estate market has responded to rapid BioPharma growth and how BioPharma leaders can plan and execute effective real estate strategies to enable growth in a highly competitive market.
The report includes helpful information on the following topics: