Boston Metro Life Science Figures Q1 2026

The Greater Boston lab market continues to contend with elevated vacancy and negative absorption, reflecting constrained tenant demand and a prolonged adjustment following the prior expansion cycle. In Q1 2026, total market availability held at 32.7%, unchanged from Q4 2025 and up 70 basis points year‑over‑year, while vacancy edged down slightly to 27.9%, from 28.3% in Q4 2025, but remained materially above the 25.1% level recorded in Q1 2025. Net absorption remained negative at 117,186 sq. ft., an improvement from the ‑406,968 sq. ft. loss in Q4 2025, though still indicative of tenant retrenchment.

Despite marginal stabilization quarter‑over‑quarter, overall market conditions remain tenant‑favorable. Since Q1 2025, Greater Boston has recorded more than 1.1 million sq. ft. of negative net absorption, underscoring the continued imbalance between occupied space and existing inventory during a period of muted leasing velocity.