CBRE Hires Top Boston Life Sciences Broker From JLL
CBRE is bolstering its life sciences team in the sector's largest market with a hire from a competing brokerage firm.
The firm brought on Don Domoretsky, who previously served as a senior managing director at JLL, to work as an executive vice president in its Life Sciences Consulting Group in Greater Boston, CBRE announced Wednesday.
Domoretsky worked with JLL for more than 13 years, according to his LinkedIn profile, and before that he worked at developer Bulfinch Cos. He has brokered more than 8M SF in life sciences deals over his career, according to the release.
His clients have included occupiers such as Arrakis Therapeutics, Synlogic Therapeutics and Celgene, and he has represented landlords such as King Street Properties, Related Cos. and Alexandria Real Estate Equities.
JLL awarded Domoretsky with a "Top Gun" achievement award for five consecutive years from 2017 to 2021, and he was a finalist for the Life Science Deal of the Year at the CBA Achievement Awards each of those years, according to the release.
At CBRE, he will work with John Varholak and Eric Smith to represent life sciences tenants and landlords in lease deals for lab, manufacturing and office space.
“Don brings a wealth of life sciences knowledge through his more than 20 years of industry experience spanning from leasing, transaction management, project-development and operational consulting,” CBRE Executive Managing Director Michael Affronti said in a statement.
The Boston-Cambridge area is by far the largest life sciences market in the U.S. with 45M SF of inventory at the end of last year, more than 10M SF higher than the next largest market, the San Francisco Bay Area, according to CBRE's Q4 report.
As of Dec. 31, the Boston-Cambridge market had 143 tenants actively seeking space, according to CBRE, more than double the next most active market. CBRE's report found that the Boston-Cambridge market had a 1.3% vacancy rate at year-end.
Domoretsky, speaking to Bisnow in December 2020, said the market's low vacancy has made it difficult for growing life sciences companies to find available space in the area.
"We’ve got an extremely tight market across the board, and it’s making it really challenging for the mid-stage tenants that are out there," Domoretsky said at the time.