August 21, 2009
Suburban Lab Space Vacancy Increases
By Matthew L. Brown
The vacancy rate for laboratory and life sciences space in the suburbs of Boston increased from 5.8 percent to 7.6 percent in the first half of the year, according to Boston-based commercial real estate broker Colliers Meredith & Grew.
During that time, 23,000 more square feet of space became vacant than was leased, the firm said.
The increase in vacancies was primarily due to companies either putting sublease space on the market as a result of layoffs or outright lease terminations.
However, the overall availability of space for lease or sublease is still less than it was two years ago, Colliers said.
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