Q1-2018-BiotechReport

Q1

M E T R O

B O S T O N

BIOTECH RE CAP

2018

TOTAL INVENTORY (SF)

UNDER CONSTRUCTION (SF)

DIRECT VACANT (SF)

SUBLEASE VACANT (SF)

TOTAL VACANCY RATE

Q1 NET ABSORPTION (SF)

YTD NET ABSORPTION (SF)

BOSTON TOTAL

5,705,748

214,400

239,809

22,118

4.6%

86,379

86,379

East Cambridge

9,311,288

1,195,500

25,439

23,005

0.5%

(30,391)

(30,391)

Mid Cambridge

5,262,211

-

28,019

-

0.5%

19,405

19,405

West Cambridge

787,860

226,885

69,632

3,000

9.2%

-

-

CAMBRIDGE TOTAL

15,361,359

1,422,385

123,090

26,005

1.0%

(10,986)

(10,986)

Route 128 North

1,134,676

-

32,688

10,243

3.8%

38,926

38,926

Route 128 Northwest

2,261,210

-

172,888

18,859

8.5%

-

-

Route 128 West

2,123,558

144,910

199,374

6,000

9.7%

(15,275)

(15,275)

Route 495 North

849,329

-

120,702

-

14.2%

(92,093)

(92,093)

South

276,159

-

-

-

0.0%

-

-

West

978,688

-

82,869

62,014

14.8%

250,813

250,813

SUBURBAN TOTAL

7,623,620

144,910

608,521

97,116

9.3%

182,371

182,371

MARKET TOTAL

28,690,727

1,781,695

971,420

145,239

3.9%

257,764

257,764

METHODOLOGY SOURCE: Co-Star, NAI Hunneman Commercial Company. PREPARED: March 2018.

DISCLAIMER: The above data is from sources deemed to be generally reliable, but no warranty is made as to the accuracy of the data nor its usefulness for any particular purpose. Average Rental Rates are asking rents on direct space. Vacant space includes both direct and sublease space.

LIZ BERTHELETTE | Director of Research 617.457.3306 | lberthelette@naihunneman.com