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The surging life sciences market in Boston, Cambridge and beyond has fueled multiple nine-figure deals during the coronavirus pandemic as readily available lab assets dwindle and emerging neighborhoods are entering the race for space.
But in an industry that often needs to occupy lab space within 12 months to start developing products or conducting research, finding it will be increasingly challenging without any more development-ready sites, conversions that take years and discount markets rising in price.
"We’ve got an extremely tight market across the board, and it’s making it really challenging for the mid-stage tenants that are out there," JLL Managing Director Don Domoretsky said.The Boston market has fewer than a dozen existing products that a life sciences tenant can step into, Domoretsky said. All of the lab buildings…
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