Boston life-science lab vacancy climbs to 31% as new spaces sit empty
Vacancy rates for laboratory and manufacturing space in Massachusetts have surged dramatically, rising from around 3% in 2021 to roughly 31% by mid-2026, according to recent data.
One high-profile example is the 10 Prospect tower in Somerville, finished in 2024 with about 200,000 square feet of lab and office area. Despite its modern glass façade, the building’s interior remains largely unfinished, with the ground floor covered in gravel and only a few restaurants operating.
The situation reflects a broader slowdown in the Greater Boston life-science real-estate market, where many newly built facilities are struggling to attract tenants, raising concerns for biotech firms and investors seeking space.
This writeup was produced by pharmadog from original reporting by Fierce Biotech.
Original headline: “‘It’s just survival now’: Why is almost a third of Boston’s life sciences lab space sitting vacant?”
read at Fierce Biotech ↗
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