Cambridge Office & Lab
WHITE HOT MARKET TO OPEN SUMMER
As Greater Boston’s global gateway market, Cambridge is a hub for intellectual capital, innovative minds and technological advancements. The Cambridge market has experienced plunging office & lab vacancy rates and rapidly growing rents which make the market one of the world’s premier locations. In fact, vacancy rates are becoming difficult to track because available space is quickly absorbed and rarely hits the market before being committed by a new tenant.
Demand is largely coming from the expansion of existing tenants, the inward migration from out-of-market users and the explosive growth of the life science industry. The life science sector now constitutes roughly 70% of total demand and has become the most formidable market force, par ticularly within the lab sector. Looking forward, Cambridge’s future remains extremely bright with the high concentration of intellectual and investment capital keeping the market fueled and extreme land constraints placing an upper bound on future development.