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‘A Wild 15 Months’: Pandemic Spurs Conversion of Offices to Labs



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The pandemic dealt a gut punch to landlords of office buildings. Aware that work can go on with employees logging in from home, businesses across the country shrank their spaces or eliminated them entirely, creating a cascade of reduced construction and plummeting office rents.The collateral damage of this remote work revolution has been millions of square feet of vacant office space. The vacancy rate for downtown office buildings across the nation has risen to 16.4 percent over the past year, according to Cushman & Wakefield.But there is hope for anxious landlords: The life sciences industry, flush with cash from a …

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