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.

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.