Opportunities in a Changing Biotech Real Estate Market

In an article published by The Boston Globe, industry experts, including our own Boston managing director, Nick Amarante, shared insights into the state of Boston’s biotech and life sciences industry, from layoffs to funding pullbacks and pipeline slowdowns. But the one underlying theme that deserves more attention is real estate.

Vacancy is at record highs, tour volume is light and real demand is scarce. Yet asking rents remain anchored to a different era, one back when capital was inexpensive, and demand felt limitless.

Why the disconnect? Because we’re still digesting the historic lab development run-up from the Covid boom. Billions were invested in new supply, and that supply is now hitting the market just as demand has slowed to a crawl. It could take the better part of a decade to absorb the excess.

“Candidly, it’s the worst market in history for landlords to operate in,” Nick shared with The Boston Globe, emphasizing the increasing pressures facing property owners across New England.

For tenants, this creates plentiful opportunity, if you know how to find it. Subleases and direct opportunities are available. Landlords are more flexible, though they’re not advertising it. The right tenant advisor will assess your needs and work with you to build leverage and cultivate the right real estate strategy for your business. If your lease is coming up or your footprint no longer fits your business plan, HM Science’s world-class advisors are here to help.

A version of the referenced Boston Globe article was republished on STAT News on April 14, 2025.