When demand for office space cratered during the Covid-19 pandemic, many developers in the Boston area doubled down on building lab space instead. Lately, it sure seems like they went overboard.
With life sciences buildings hitting the market at a much faster rate than they can be filled, the region’s lab vacancy rate has skyrocketed, to the point that the share of empty space available rivals that of the pandemic-battered office market.
It’s a massive shift, in a short time.
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