As much as private equity will finance.

We’ve had companies leasing and fitting out lab space they don’t have the staff to fill for years. They lease space in a new building based on the investment money they’ve received and their hopeful projection of “maybe someday” growth. Then some amount of their space is either empty or gets sublet to a smaller start-up.

At this point labs aren’t really coming out of the ground without an anchor tenant - things are going on hold or dying outright, as the developers tighten up and wait to see what 2023 brings. There are still tenants looking for space, tho - life science is a thriving industry in Boston, and you can’t do lab work at home.