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The vacancy rate in the Cambridge lab market droppeefrom 12.7 in the third quarter of 2008 to 12.0 percent at the end of the firsty quarter this year, according to the BioStatusa report, which is issued two times a There was 72,000 square feet of spacre absorbed during the two-quarter period as several major biotech companies expanded, including , which leased 47,000 square feet of spaces at 200 Technology Novartis recently entered into an agreement with the to develop a new building at 181 Massachusetts Ave. The lab markety in Cambridge is the largest in Greaterf Bostonwith 7.7 million squarre feet of space.
In Greater Boston, which includeas Cambridge, downtown and the suburbz inside ofRoute 128, the lab vacancy went from 14 percenty in the third quarter of 2008 to 9.7 percenty in the first quarter of this according to the report. Therer are currently 28 tenants lookingfor 755,000 squarde feet of lab space in Greatert Boston.
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