Boston Has A Dire Shortage Of Biomanufacturing Facilities
The red-hot life sciences market in and around Boston is lacking a critical piece as its growing companies look to expand.
Biomanufacturing facilities are few and far between in the region, and biopharmaceutical companies are scrambling for solutions, experts said. New medicines require fundamentally different manufacturing than the drugs of the past, meaning most of these facilities need to be built new. Courtesy of King Street Properties A rendering of King Street Properties 45-acre biomanufacturing campus in Devens.
“There’s a dire shortage of this kind of real estate,” King Street Properties principal Stephen Lynch said. “There doesn’t exist, in the U.S., an organized real estate market for this product type. The end users, the companies that need to make these drugs, are scrambling for solutions.”
MARLBOROUGH Several key issues will likely go before the City Council in 2021, including zoning to attract more life sciences companies to Marlborough, a proposed 140-unit apartment complex at the former McGee Farm and the annual city spending plan.
City Council President Michael Ossing outlined some of the significant measures expected to come before the council in the new year.
Life sciences
The city already has a strong reputation as a hub for life sciences companies, but Marlborough leaders plan to strengthen that distinction in the coming year.
Ossing anticipates new zoning will come before the council to make Marlborough even more attractive for life sciences companies to move to the city.
MassBio Head Stepping Down To Head JLL s Boston Life Sciences Group Robert Coughlin, the former Massachusetts Biotechnology Council trade association chief, is headed to JLL.
JLL is adding a venerated life sciences leader to its brokerage team, bolstering its team to address the booming lab market.
Robert Coughlin, the longtime president and CEO of the nonprofit Massachusetts Biotechnology Council, will join JLL early next year as managing director of the firm’s life sciences industry practice, navigating arguably the industry’s hottest real estate.
“Biotechs need a strong partner who can help them identify opportunities to optimize their portfolios, whether it’s through site selection, tax incentives or operational efficiencies,” Coughlin said in a statement. I’m eager to help them improve their real estate assets so they can focus on research, development and solving unmet medical needs for patients.”