The Boston Metro‘s burgeoning life sciences sector is red-hot, and related commercial real estate activity points to more growth ahead. According to reports from CBRE as published in Boston Bisnow, the life sciences sector is being fueled by capital funding that is supporting the development and expansion of lab space.
While the Boston Metro is a major hub of medical research and bio-manufacturing, the booming growth of life sciences is playing out around the country. During 2020, demand for lab space increased by 34% across all major metros. Pre-leasing activity of developing space is brisk, signaling rapid absorption of properties coming to market.
The increasing capital and development for the life sciences sector is pointing to another boom: employment. Job availability in life sciences has never been better. In fact, there is an ongoing, critical need for a well-educated workforce ready to step into these high-paying, specialized positions.
This is where the Boston Metro holds a competitive advantage over other major metros. Our institutions of higher learning produce the most STEM degrees in the U.S. per million residents. We have the greatest percentage of adults anywhere in the U.S. with a Bachelor’s Degree or higher. Those who graduate from institutions in Massachusetts tend to remain here, with about 60% of graduates making Massachusetts their long-term home.
The Boston Metro could be the ideal place for you and your business, too! When you are ready to begin, relocate or expand your business, team up with the Jay Nuss Realty Group, LLC! Whether you are thinking of buying, leasing, or investing in Boston Metro commercial real estate, we can help you find the ideal property.
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