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88stardestroyer t1_j56twc5 wrote

Reply to comment by hmack1998 in Five-building residential and life-sciences complex with a museum could rise on long vacant parcel on Tremont Street across from police headquarters by rabblebowser

Are you stuck in 2021? Biotech is certainly not crashing down, but some R&D had been fired and many large companies have hiring freezes in place

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RoaminRonin13 t1_j5726br wrote

Sure, but some others are still looking for space.

The developers don’t want to spend money in 2023 unless there’s a tenant, and plenty of companies are tightening their belts or seeing investment streams dry up. But others, like some institutional tenants, are planning for 2024 and beyond in terms of their space needs.

I don’t disagree with you that the book may be over, but you’re right that it isn’t crashing either. Life-science has dramatically cooled in just the last 4-6 months. We’ll probably not have a good sense of how things look until 6+ months from now.

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88stardestroyer t1_j576459 wrote

Mostly agree. For me, there won't be expansion in this sector, like many others, until the FED cuts interest rates. Could be well into 2024

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