News: Front Section
Posted: October 21, 2016
Encompass Real Estate Strategy Inc. releases Green 2016.3 report
Boston, MA Encompass Real Estate Strategy Inc. released Green 2016.3, the company’s report covering Greater Boston’s commercial laboratory real estate market for the third quarter of 2016. Tenants absorbed an aggregate 452,000 s/f of space as a 13-quarter positive absorption streak has risen occupancy levels by 3.9 million s/f with vacancy now at 4%, down from 5% a quarter ago. Vacancy in Cambridge is now at 1.6%, with the class A market completely full. A 221,000 s/f of space remains available in a Cambridge building set to be delivered in 2018.
“Biotechnology companies are facing an extreme shortage of preferred, high-quality space throughout the region,” said Brendan Carroll, director of intelligence, who went on to say, “a lack of options, even at premium price points, is forcing tenants to become increasingly creative, with demand spilling into an increasing number of geographies and biotech groups increasingly leasing in traditional office buildings.”
This quarter’s “OTB” section, featured on page two, provides a brief reference of the region’s most active venture capitalists in terms of investment in local companies that have gone public over the last two years. There have been 17 initial public offerings of local biotech companies in that time, and 25 percent of the aggregate equity of those groups were owned by locally-based venture capital groups, roughly half the 49 percent of total venture capital funding at IPO time.
Green 2016.3 is a release of Spectrum 2016.3, greater Boston’s leading resource for commercial real estate information and analysis, covering the second quarter of 2016. Having launched in the first quarter of 2016, Spectrum is the Boston market’s largest suite of commercial real estate intelligence.
Encompass Real Estate Strategy is a provider of information services to existing and potential participants in Greater Boston’s commercial real estate industry. Through its array of research products and services, the Company meets a growing demand from an expanding and evolving set of parties interested in Boston’s commercial real estate market with an array of information tools not presently available from existing sources.
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