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May 24, 2022

As Boston Biotech Overflows, Its Suburbs Go Platinum To Soak Up The Spillover

Boston Developers Discuss Tax Credit Programs & Affordable Housing Incentives June 14

Life sciences properties in Boston and Cambridge are essentially full, giving cities and towns in the surrounding area a golden opportunity to attract high-paying jobs and new development to their borders if they can capitalize.

As these suburban municipalities jockey for spillover growth, local officials have come to view improving their place on the MassBio’s “BioReady Communities” list, a ranking of towns and cities in Massachusetts based on how ready they are to host life sciences companies, as a key to winning the economic development race.

As Boston Biotech Overflows, Its Suburbs Go Platinum To Soak Up The Spillover

Malden Strategic Planning Officer Kevin Duffy, whose town was upgraded to platinum, the list’s top tier, in 2016, said that upgrade was a key goal of its life sciences strategy. “Everybody in the Greater Boston area is chasing life sciences,” Duffy said. “We weren't terribly optimistic just because…

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This Week's Boston Deal Sheet

Boylston Properties, the real estate firm developing 400K SF of life sciences space at the Arsenal Yards shopping center in Watertown, has launched a new property management arm.

The company brought on Robyn Duffy from JLL to serve as director of property management for the new arm, Boylston Properties Management Co., it announced Thursday. Duffy worked at JLL as a group manager since 2019, managing 800K SF of lab, medical office and industrial space.

Boylston has fully leased the first 108K SF life sciences building at Arsenal Yards to three tenants. Another 300K SF of lab space is scheduled to deliver in two additional buildings by this fall, and it will accommodate seven life sciences tenants. 

The firm's new property management arm will also oversee several retail properties in Boston and Needham.

SALES

This Week's Boston Deal Sheet

Boston-based developer Berkeley Investments acquired 18 acres in Billerica from Cabot Corp. with plans to develop a 200K SF purpose-built Good Manufacturing Practice facility. JLL marketed the site on behalf of Cabot, which will continue to operate its flagship R&D facility on the adjacent parcel.The land sits on Concord Road next to the Middlesex…

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Impact Investing Is Working On Its Image: 'Yes, We Are An Impact Fund, But ...'

 

Impact investing and environmental, social and governance strategies have a significantly higher profile among commercial real estate professionals now than they did two or three years ago, but many in the industry still don’t have a perfect grasp on what these types of investments truly do — and don’t — entail, and those working in the space say ESG and impact investing can still feel like dirty words.

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