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22Q1 Boston Lab Market Report

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Key Takeaways

  • Fundamentals are healthy in the Boston metro's life science market.
  • The market by far has the nation's largest pipeline of potential life science projects.
  • Big leases are getting done and millions of square feet worth of tenants are looking for space.

Empty space is rare. The overall availability rate in the metro ticked up to 2.4% in the first quarter due to tenants returning space to the market and some new space not yet being fully committed. Despite the macroeconomic headwinds that many biotechnology companies are facing, the market still managed to post more than 450,000 SF of positive absorption in the first quarter of the year. With tens of millions of square feet in announced or underway projects, Boston easily has the largest potential pipeline of life science space in the nation. As more projects deliver and companies set up shop, the market will solidify its status as the nation’s leading biotechnology hub.


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22Q1 Boston Lab Market Report

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