Dive Brief:
- According to a survey from Jones Lang LaSalle (JLL), the more expensive the Boston biotech hub gets, the more popular of a destination it becomes, FierceBiotech reports.
- Rents in the Boston biohub are up 7.4%, compared with 2014, to $47.40 per square foot.
- The cites that rank second and third are Raleigh-Durham and San Francisco, as well as San Diego and New York City.
Dive Insight:
What's clear based on JLL's survey is that everyone wants to be in the biotech hot spots. These locations are buzzing with activity and opportunity, especially as the M&A trend continues unabated.
When JLL considered which spots were top-market for biotech companies, they considered the four following factors: the concentration of biotech employment in the metro area; VC funding; NIH funding; life sciences patents; the concentration of life sciences establishments; and employment growth.
All things considered, the results of this survey signal a strong, growing biotech sector. Now the question is which of these companies will be around in 10 years and which will deliver on their therapeutic endeavors.