The greater Boston area's laboratory market has stayed largely the same in the second quarter of 2020, however purchasing plans are showing a greater emphasis in the area suburbs, according to Colliers International Lab Viewpoint report.
"More space is coming, and conversions in the suburbs and Boston and future new development throughout the market aim to tap into this supply/demand imbalance," the report states.
Historically, lab space has been most prevalent in the Cambridge area. However, the suburbs are likely going to grow in the near future. The report states that Alexandria has expanded its suburban operations by purchasing spaces in Watertown and Newtown in recent quarters. The report says the company also has plans to acquire the Mount Auburn Club alongside National Development.
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Dan Clark
Dan covers cyber security, legal operations and intellectual property for Corporate Counsel. Follow him on Twitter @Danclarkalm.
