Globe reporter Kara Miller’s story on the potential long-term decline of Boston’s biotech industry is looking more prescient by the minute. Banker & Tradesman is reporting that the Boston area’s lab vacancy rate hit 25 percent in the first quarter. From B&T’s Steve Adams: “The prospect of trade wars and federal cuts to National Institutes of Health funding add new risk factors to an industry that’s been retrenching since 2022.”

Update — 4.16.25 – More space coming on the market. From the BBJ: “Mural Oncology cuts 90% of staff, pulls plug on cancer drug.”

Update II — 4.16.25 – I assume Blackstone and Biomed Realty know what they’re doing. From the BBJ: “Cambridge office building marked for lab conversion.”