Madison’s life science vacancy rate at 4%

Vacancy in the Madison life science market increased slightly to 4% but remains low, according to the latest Life Science Market Overview published by Broadwing Advisors.

The report, released Wednesday, said the 4% vacancy rate represents 193,229 vacant square feet for the market’s 89 lab properties, which total nearly 4.8 million square feet.

A vacancy rate of under 5% is indicative of strong tenant demand, but it is not always a foolproof sign of a healthy commercial real estate market.

The Broadwing report said Dane County’s low vacancy rate limits companies’ ability to quickly accommodate growth. Most available lab space is predominantly located in University Research Park and the west submarket.

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RSK: Now if we could just get some traction on Velocity Station where the old Olde Towne Office Park was. . . .that would be a real bonus.