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October 16, 2015

Biotech firms find little room for a lab

Puget Sound Business Journal

Annie Zak

It's getting harder and harder to find a place to house a life science company in Seattle.

A new Life Science Market Overview report from Seattle real estate brokerage Kidder Mathews examines just how tight the real estate market here is for companies and organizations in the industry.

Available office and lab space in Seattle is "virtually zero," which will push more companies to look for space in Bothell. But even there, there's not enough space to go around.

There is some construction under way of new life science buildings in Seattle, but much of that space is already leased.For example, Seattle biotech Juno Therapeutics has leased up more than 80,000 square feet in a new South Lake Union building that won't be finished until 2017.

Plus, new biotechs are still popping up and existing ones, such as Seattle Genetics, are expanding.

For the full story, go to Puget Sound Business Journal.

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