Boston-Area Lab Vacancies Hit 25 Percent as Industry Retrenches
The lab space vacancy rate hit 25 percent across the region during the first quarter, as companies continued to downsize and list new sublease space.
Lab Vacancy Rate Nears 14 Percent
As more life science conversions and new developments were completed without tenants, Greater Boston’s lab vacancy rate rose to 13.7 percent in the first quarter.
Alexandria Sees Rebound in Lab Space Demand
Greater Boston’s largest lab landlord said vacancies in its local portfolio topped 7 percent in the fourth quarter, but a revival in life science industry expansion plans points to growth in 2024.
Biotechs Shun New Lab Developments
In a direct contrast to the office market, where tenants have gravitated to new high-end buildings for lease commitments since 2020, life science developers are finding muted demand for the new crop of lab buildings dotting the local landscape.
Lab Leasing Slowed in Q2, Report Says
Demand for life science space declined in the second quarter as the lab vacancy rate in Greater Boston hit 14.3 percent, according to a brokerage report.
