Watertown Life Science Market Stabilizes, Showing Signs of Recovery

The life science market in Watertown, a submarket of Greater Boston, appears to be stabilizing following years of falling rents and rising vacancy rates. According to industry information, Watertown's vacancy rate recently dropped from approximately 43 percent to 31 percent. This stabilization is supported by recent leasing activity at locations like Arsenal Yard and 66 Galen St.

The stabilization suggests momentum in the Watertown market, which is attracting medium-sized tenants, often in the 20,000 to 40,000-square-foot range. While the 31 percent vacancy rate remains higher than the second-quarter regional rate of about 28.7 percent, it is lower than many other suburban submarkets.