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2020 Q1 Lab Viewpoint Report Boston Colliers

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Greater Boston’s medical and life science expertise is on full display in the battle with the COVID-19 pandemic. Local companies spread throughout the entire market are focusing on vaccines, therapies, testing, production of PPE —all in search of ways to help and keep people safe. The disruption in our day-to-day lives has caused the whole commercial real estate market to pause, including the area’s lab market. However, that part of the market remains strong, with stable vacancies and record-high rents. 

The life science market has attracted many new players. New markets are being unlocked as well, including incubator and small lab offerings in Natick from Abi-Labs. Building conversions are becoming more common in the city and in the suburbs. Among the more notable conversions are 601 Congress with multiple floors being considered for lab conversion for life science tenants and 51 Sleeper and 1 Winthrop Square, purchased by Nan Fung Life Sciences Real Estate with plans to convert them to plug-and-play lab space. IQHQ controls the Fenway Center project, along with purchasing Eisai’s former campus in Andover. Lab has become the highest-and- best-use property type, and developers are rushing to cash in on this voracious industry.

 

Q1 2020 Lab Market Viewpoint Report Boston Colliers

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Q1 2020 Lab Viewpoint  News Card

2020 Q1 Lab Viewpoint Report Boston Colliers

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Aaron Jodka

National Director of Capital Markets Research

Boston

As Director of Research | U.S. Capital Markets, Aaron is responsible for all aspects of research within the Capital Markets platform. He synthesizes and interprets a variety of data and information to stay ahead of trends that put our clients in an optimal position to make informed decisions. Aaron promotes the Colliers brand via best-in-class research reports, weekly insight posts, thought leadership, and contributions to numerous panels, media outlets, and industry events.

Aaron collaborates with every team at the firm and wears many hats: in-house economist, advisor, consultant, thought leader, strategic business analyst, presenter, and, of course, researcher. He connects with various industry experts within the Colliers organization to provide a customized solution for each client.

With a deep understanding of markets throughout the country, he provides a unique perspective on market dynamics across asset types and investment strategies, providing clients with tailored data and analytics to ultimately guide decision-making solutions.

Before joining Colliers, he spent 11 years with Property & Portfolio Research (PPR), now CoStar Portfolio Strategy. There, he advised institutional clients on their commercial real estate investment strategies across property sectors and also spoke at industry events, quarterly CoStar webinars, and in front of client audiences. Aaron also led and directed a team of economists who monitored property markets across the United States. Near the end of his tenure, he helped establish a new business unit at CoStar, leading in the hiring, training, and coaching of a team of 50 market analysts. 

Outside of the office, Aaron can be found cheering on his children at their extracurricular activities. He also enjoys hiking, travel, relaxing at home or at the lake, or plugging away at one home project or another. Last but not least, he's an avid fan of Boston sports teams.

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