The State of Boston BioPharma Real Estate

November 2018
Jeremy Hood

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:

  • Why Greater Boston is one of the biggest hubs for BioPharma
  • What the typical rents and vacancy rates are in Cambridge
  • Why real estate is increasingly competitive and costly for BioPharma companies
  • Where real estate developers are building BioPharma clusters in Greater Boston
  • How BioPharma leaders can plan their real estate effectively
  • Why office and lab configurations matter for the growth and success of BioPharma companies

About T3 Advisors

T3 knows that space is the lifeblood of a business and a major platform for growth. Working as an extension of the team, T3 develops and implements a wide variety of corporate real estate solutions for organizations ranging from startups to multinational corporations. By only representing tenants—not landlords—T3 also offers a transparent, conflict-free look into real estate strategy.

The company’s real estate services include tailored brokerage, location advisory, portfolio planning, consultative insights, project management, and ongoing workplace support. Placed at the center of innovation ecosystems with offices in San Francisco, Palo Alto, NYC, and Boston, T3 has advised thousands of companies globally, including LinkedIn, HubSpot, ASICS, AutoDesk, WorkDay, and Battery Ventures.