What about the flower exchange? Given the appetite for life sciences buildings I thought we'd have seen more progress on that.
I also was wondering about this... with a bit of a follow on question for my market savvy colleagues here...
Life Sciences, The Concept: Is it a marketing pivot to get bodies into now-empty office space to focus on actual jobs that need to be done in person or the real deal?
It seemed like there was a smaller need for life sciences. Neighborhoods were afraid of having life sciences dedicated spaces because of BioScaryThings...
Aaaah! Anthrax! Ebola! Nanobots! Aiiiieeee! And there was often hysterical resistance.
Then Covid happened...
...and now damn near every commercial project gets a Baltimore Catechism LifeSciences blessing. Normal Class A office space gets the baptismal dunk and suddenly they're soaking wet bonafide Life Sciences specialty properties.
One Congress is pimping their planned short tower for Life Sciences... As part of a slick (gorgeous) hotel-condo-bank office complex, next to the some of the densest populations on the East Coast, and over two subway lines! This wasn't always the way.
I can't be the only one to remember back in 1995... BioGen was kinda forced to go to an empty lot in Lower Allston because of The Fear.
Now, it seems like everything is LS Space or has a lean that way! Next to a daycare or a school or anything. No bigs.
One could argue a bucket of cash was thrown at our local Pharma sector in a panic and the market pivoted to adjust.
My more cynical (usually correct) side thinks that the days of regular bodies working in old commercial spaces are largely over because the Masters finally see how you don't need to be in person to Get Shit Done. Remote work is fine, in fact, it's encouraged because your cubicle would rent for 10K a year! They don't want to pay for empty air. Everybody is on the commercial shrink because they can be. It's disruptive, but it makes sense.
...Except with Life Sciences. With actual, in person bodies, doing real white collar (top dollar) researchy stuff. And the Rentier class of property owner knows this. And is scared. And is ramping up the Life Sciences pitch.
Thoughts?