74M (EDGE Assembly Sq.) | 74 Middlesex Ave | Somerville

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Its nice to see that even though they still used colossal order grouping here of 2 floors at a time they made the horizontal lines very thin so the vertical lines dominate the building much more and it has much better verticality.
 
As of Sunday 6/16.
 

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From 8/25.
 

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It's gonna be a while before that get's leased up haha, new life science is dead.
This is a big building and in Somerville, so yes it will take a while. However, "new life science" is not dead. Boston continues to outperform every other market. VC funding returned last year, as did new clinical trial starts, and M&A is picking up - 2023 was a bad year and 2024 was flat, 2025 is picking back up, and we are tracking towards steady pre-pandemic growth rates.
 
This is a big building and in Somerville, so yes it will take a while. However, "new life science" is not dead. Boston continues to outperform every other market. VC funding returned last year, as did new clinical trial starts, and M&A is picking up - 2023 was a bad year and 2024 was flat, 2025 is picking back up, and we are tracking towards steady pre-pandemic growth rates.
Maybe the industry is doing fine, but life science real estate is not. Availabilities are up to almost 27% with more than 15 million SF available. It's going to take a looong time to absorb all of that.

 
Maybe the industry is doing fine, but life science real estate is not. Availabilities are up to almost 27% with more than 15 million SF available. It's going to take a looong time to absorb all of that.

I was building out lab space in the Boston area for my business a couple of years ago and places like Kendall were $100 sq ft and there was no vacancy. It was getting to the point where even Rt 128 and 495 were wildly expensive. Companies were able to fill space for half that price and have the red carpet rolled out in other parts of the country.

There is "too much" available lab space right now, but it will fill up and price per sq ft will come down. The economic tailwinds are moving in the right direction, and Boston is the king of pharma research as well as biopharma manufacturing (which surprised even me) and I believe the lab vacancy will be at a healthy equilibrium in a few years.
 

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