Massachusetts Sees $2 Billion Construction Boom from the Biopharma Industry Including Shire Human Genetic Therapies (SHPGY) and Pfizer Inc. (PFE)
4/6/2012 7:50:51 AM
Shire Human Genetic Therapies recently vacated a Cambridge, MA site, moving employees to its campus in Lexington, MA, but the 115,000 square foot space won’t stay vacant for long. Pfizer will occupy it temporarily while a new permanent lab-office for it rises just 0.1 miles east. Shire and Pfizer are among nearly a dozen biopharma companies, research institutions, and developers building a combined 3.5 million plus square feet of lab and office space totaling more than $2 billion across Massachusetts. The newest project emerged March 28, when Alexandria Real Estate Equities announced plans for a 414,000 square foot building in Boston’s Longwood Medical Area.