As more and more new life sciences developments are announced in and around Boston, experts are starting to question whether the market could possibly keep up with the froth.
The region now has approximately 30M SF of lab space, according to Colliers International, nearly twice as much as it had in 2010, when the market sat at 16M SF, according to Cushman & Wakefield.
This year, the market is set to deliver 4M SF of lab space, a roughly 13% increase in supply. In the coming years, the pipeline sits as high as 18M SF, according to some estimates, which would increase the supply after 2021 by more than 50%.
Developers, brokers and researchers are tackling questions of overbuilding for the first time as Boston’s future will be dominated by labs in the wake of a historically difficult year for offices. Record private and public funding is fueling life sciences demand, but not all planned supply could come to fruition.“Are…
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