The Stevens Group

Real estate: Boston-area lab boom meets life sciences bust

The Boston area built a ton of lab space. Now many of those buildings are opening empty. - The Boston Globe The region's supply of life science real estate exploded just as the once-booming industry hit a slow patch. Now what?

Remote Work Estimated To Wipe Out $800 Billion in Office Value in These Nine Global Cities

CoStar News - Remote Work Estimated To Wipe Out $800 Billion in Office Value in These Nine Global Cities Behavioral changes sparked and accelerated by the pandemic, especially when it comes to where and how people work, threaten to have a “severe and lasting impact” around the globe that is estimated to wipe out some $800 billion in office value in nine cities by 2030.

As remote work takes hold, Boston’s office market starts to wobble - The Boston Globe

As remote work takes hold, Boston’s office market starts to wobble - The Boston Globe Vacancy rates are at near-two-decade highs, and there are growing concerns that defaults and devaluations could ripple through the economy.

https://product.costar.com/home/news/shared/854084556

CoStar News - Alarms Ringing for Office Market, Bank Collapse Triggers Office Downgrade, Bank of America Bullish on Multifamily Alarms Ringing for Office Market: When the loan on Philadelphia’s largest standalone office building at 1500 Market St. moved to special servicing in August, it didn’t register much alarm at the time, according to a new report by Morningstar Credit Information & Analytics. After all, the propert...

https://product.costar.com/home/news/shared/1637500006

CoStar News - Show Me the Financials: Office Tenants Now Grilling Landlords Before Inking Deals Turmoil in the U.S. office market — which has triggered missed loan payments and foreclosure warnings — has meant prospective tenants are now taking a closer look at the financial health of property owners. The queries are an about-face for many office owners, which previously were the ones dema...

Boston’s office market softening as economy wobbles - The Boston Globe

Boston’s office market softening as economy wobbles - The Boston Globe A report found that demand for office space fell in July and remains well below pre-pandemic levels.

Congratulations to our client, Azzur Cleanrooms On Demand, on the leasing of a new 103,496 sf building in Devens, MA | The Stevens Group

The Stevens Group Represents Azzur Cleanrooms On Demand In The Lease of 103,496 sf in Devens, MA | The Stevens Group Devens, MA: April 25, 2022 – Azzur Cleanrooms on Demand™ (COD), an Azzur Group company, leased a 103,496 sf purpose-built lab/biomanufacturing facility located at 45 Jackson Road in Devens, MA. It is the first building to be built and leased within the planned 45-acre campus, which will be compr...

Boston & Cambridge lead the nation with 9.2 million sq. ft. of speculative life sciences space. http://ow.ly/VFrQ30s6gHH

CoStar News - Biotech Construction Not Keeping Pace With Rapidly Rising Nationwide Demand Escalating demand for new life science laboratory space is outpacing speculative construction in one of the nation’s fastest-growing types of commercial real estate.

CoStar News - Warehouse Tenants Face Price Shock as US Industrial Rents Soar http://ow.ly/6Kag30s4lKu

CoStar News - Warehouse Tenants Face Price Shock as US Industrial Rents Soar Warehouse tenants are bracing for the kind of sticker shock already familiar to shoppers buying everything from ribeye steaks to used cars.

CoStar News - Tech Industry’s Recovery Could Help These Office Markets Bounce Back Sooner http://ow.ly/Qkz530s1yWy

CoStar News - Tech Industry's Recovery Could Help These Office Markets Bounce Back Sooner The sail-like shape of Google’s future office tower is rising over Lady Bird Lake in downtown Austin, Texas, in a physical reminder of the tech giant’s pre-pandemic bet on the future of its workforce in the city. The nearly 800,000-square-foot tower is a block from Google’s main Austin office,...

CoStar News - Industrial Rents Seen Rising As Much as 25% as Space Shortage Worsens http://ow.ly/rOKv30rYhQ2

CoStar News - Industrial Rents Seen Rising As Much as 25% as Space Shortage Worsens The tight supply of space weeks before the busiest time of year for retailers is resulting in projected industrial rent increases of as much as 25% this year. It's also prompting landlords to step up construction and even buy office parks to convert to industrial buildings in some markets.

CoStar News - Office Demand Has Best Quarterly Showing Since the Pandemic Began http://ow.ly/j6Vv30rXEsO

CoStar News - Office Demand Has Best Quarterly Showing Since the Pandemic Began While the delta variant may have stymied return-to-work plans for some firms, overall office demand has accelerated over the late summer and early fall, suggesting the recovery in the beleaguered sector is gaining steam.