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What It Takes to Convert Office Buildings to Biolab Space? Conversions to life science space are becoming more popular, but there are some considerations to keep in mind.
With demand for office space somewhat anemic right now, many office landlords are considering repositioning their office buildings as life science lab space, especially in premier biomedical research markets, including Boston-Cambridge, the San Francisco Bay Area and San Diego.
Office-to-lab conversions are currently a hot trend in the Boston-Cambridge market, according to Boston-based Robert Richards, who leads the Cambridge/Urban team at real estate services firm Cushman & Wakefield. “Demand for biomedical lab space is insatiable right now and will remain in high demand for next 24 36 months in the Boston-Cambridge metro,” he says, noting that when the 2 to 3 million sq. ft. of new lab space under construction is delivered in 2023 and 2024 this sector is expected to soften a little.