STAT+: The Boston area built a ton of lab space. Now many of those buildings are opening empty

During the pandemic, real estate developers in Greater Boston shifted their focus to life-science laboratories as the future of cities became uncertain with white-collar workers staying home. Biotech companies, like Moderna, thrived and investors saw them as a lucrative opportunity. Money poured in from venture capitalists, the stock market, and the National Institutes of Health, leading to a wave of speculative lab development in the region. This shift highlighted the resilience and growth potential of the life-sciences industry, attracting both biotech companies and real estate investors to invest in the thriving sector.

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