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21Q3 Boston Lab Market Report

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Vacancies have plummeted to less than 1%, the lowest on record, and strong VC funding supports additional demand. More than 12 million square feet of lab/GMP requirements are active in the market today. Ground-up development and conversions are bringing new product across the market, and it can’t arrive soon enough. The center of gravity will remain Kendall Square, but demand is radiating out to all corners of the Greater Boston market, offering opportunities for investment, conversion, and development.


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21Q3 Boston Lab Market Report

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Jeffrey Myers

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As Research Director, Jeff Myers leads the research operation of the Boston office of Colliers. A 20-year industry veteran, Jeff brings an extensive commercial real estate background that includes expertise in city planning, market research, landlord representation and more.

Since joining Colliers in September 2021, he has focused on synthesizing real estate, demographic, and economic variables to support brokers and provide clients with strategic and actionable insights. In addition to tracking and analyzing pertinent trends, Jeff leads the production of quarterly reports highlighting activity in the market.

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Before joining Massport, Jeff spent more than 11 years as a consultant and real estate economist at CoStar Portfolio Strategy. While there he developed extensive knowledge of the commercial real estate business as well as strong skills in client engagement and industry analysis. During his tenure with CoStar, Jeff provided strategic advice to institutional real estate investors across multiple sectors and geographies. Jeff also has municipal city planning experience in Indiana and Georgia.

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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.

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