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Mon, Aug 19
A Compendium of Property & Capital News
Mon
Aug 19
A Compendium of Property & Capital News

Green Report; Fort Point Expanding Footprint for Bio as Buyers Bet on Seaport

July 12, 2019 - By Brendan Carroll - Perry Research
Fort Point Graphic by Bridge

​BOSTON–Fueled by runaway occupancy growth and a dearth of existing inventory and development sites, the globally recognized Cambridge brand continues to expand geographically within the Greater Boston market. While record transaction values continue to suggest East Cambridge as the bio center, additional areas are evolving as potential next frontiers for clusters of biotech groups, according to Green by Bridge Report.

Most notable is the Seaport’s Fort Point area, where numerous transactions last quarter by established lab developers acquired land with more than one million sf of partially ‘shovel-ready’ potential. As East Cambridge landlords prepare the last remaining sites for development, tenants react to primary choice shortages by bifurcating their footprints in numerous geographies, and by establishing locations for non-wet lab type uses in office structures. As the southern Fort Point becomes a clear next frontier of lab activity, Burlington and Quincy have emerged as potential next suburban bio clusters.

Read the full report here.