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We've never seen a market like this

We've never seen a market like this

Life sciences spaces are 99.9% occupied in Boston. And that lack of availability has sent rents to never before seen heights.
 
Lab occupancy in our inner wester burbs is at an all-time high too: 97.7%.
 
Prices are somewhat lower here -- but they’re still at an all-time high -- according to the latest CRBE report. 
 
Established clusters in Waltham, Watertown and Lexington saw solid leasing activity this quarter and are expected to remain strong with 1.6 million sq. ft. of new product coming 2022 the report adds.
 
“The mix of tenants that are currently in the [128 West] market have never been as high-profile as they are today,” CBRE Executive VP Eric Smith tells Bosnow’s Andrew Martinez.
 
“It’s not just mature companies that have outgrown Cambridge, but certainly some companies that appreciate what the suburbs have to offer,” say Smith.
 
Martinez also reports that Harrison Street Real Estate just paid a $92 million -- a record price – for one of the region’s largest biomanufacturing sites: a 74,000 sq. ft., mRNA vaccine facility at 650 Pleasant Street in Watertown, 
 
Northland all in on combating homelessness
 
The folks at Northland Investment Corp just made a major donation dedicated to combatting homelessness in Greater Boston.
 
The Newton-based developer gave $1 million in unrestricted funds to HomeStart, a Massachusetts-based nonprofit dedicated to ending homelessness in Greater Boston.
 
The gift will enable HomeStart to expand its offerings, including: scaling its disruptive and innovative eviction prevention model known as the Renew Collaborative beyond Massachusetts; piloting new innovative solutions to address housing insecurity; and doubling the number of clients served from 1,500 to 3,000.
  
Northland is currently developing a 23-acre mixed use community  along Needham Street in Newton.
 
The company’s CEO Matthew Gottesdiener has been involved with HomeStart for five years, currently serving as treasurer on its board of directors.
 
Yes, restaurant workers can get a vax booster
 
Hospitality workers are currently eligible to receive the Pfizer COVID-19 booster, according to the Mass Restaurant Association
“While restaurant workers are not specifically listed [by the CDC] as an occupation of increased exposure, they do list food and agricultural workers and in our conversations with CDC, they have expressed that restaurant workers would fit the criteria,” MRA said in an email to members.
 
In fact, any worker who interacts within six feet of other people, can self-identify as qualifying for a booster under CDC latest guidelines, MRA adds.
 
Yesterday, an FDA advisory panel voted unanimously in favor of authorizing booster shots of the Moderna vaccine to the same groups that currently qualify for the Pfizer booster. The FDA is not bound by the votes of its advisory committees, but generally follows their advice, according to STAT.
 
Weekend need to goes
  • Sunday’s annual Newton Harvest Fair (10 a.m. to 5 p.m.) provides a great opportunity for political candidate watching, plus the Green Newton Expo along with 125 vendors, pumpkin decorating, kiddie rides (also available Saturday), live music and picnic tables where you can enjoy takeout from your favorite Newton Centre restaurants.
  • The rained-out picnic, concert and fireworks portion of Wellesley's Wonderful Weekend has been rescheduled to this Sunday (Oct. 17) at Hunnewell Field (Wicked Local)
  • Newton’s four Area Councils will host candidates debates for the office of mayor and all contested races for City Council and School Committee. The events will be held via Zoom on Saturday and Sunday, Oct. 16 and 17.  
 
 
Do you sit on a nonprofit board of directors?
 
United Way’s fully virtual Fall 2021 Board Connection is a training program where individuals learn the ins and outs of what it takes to be an effective nonprofit board member.
 
Some workshops have already taken place, but others remain. Details.
 
Jake Auchincloss has a challenger
Emily Burns, a Newton mom of three, announced her plans to run against Congressman Jake Auchincloss in 2022, Politico’s Lisa Kashinsky reports.
 
Burns is a Libertarian who plans to seek the Republican nomination. She has already kicked in $250,000 of her own money to launch her campaign, Kashinsky adds.
 
I don't believe I've ever met Burns. But I suspect her campaign launch video tells us all we need to know.
 
Other need to knows
 
  • Are you a Newton employer looking for job candidates? The City of Newton in partnership with MassHires and our chamber are hosting a virtual job fair on Nov. 2. Registration deadline is Oct. 25. Employers can register hereJob seekers register by emailing Christine Moreira.
 
Tiny house, big lift
 
Remember the widely reported story a few weeks back about the 251-square-foot home in Newton that was on the market for $450,000?
 
Eight days after it went on the market, the seller accepted an $449,900 offer , the Globe reported last week.
 
But now WCVB reports that the home at at 1295 Boylston Street is back on the market because the buyer couldn’t find a lender, even after offering to put 20 percent down.
 
The one room home with a "knee-high" sleeping loft is now listed at $389,900, The owner is looking for a cash offer.
 
And that’s today’s Need To Knows, unless you need to know how you can volunteer to help count walruses from outer space. (Really, this is a thing.)
 
Here we go Red Sox. Here we go.
 
Greg Reibman (he, him)
President
Charles River Regional Chamber
617.244.1688
 
P.S. In case you missed it, check out the video from yesterday's Newton mayoral debate between Ruthanne Fuller and Amy Mah Sangiolo. My thanks to both candidates for making it interesting.
 
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