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Lab Facility Shortage Could Impede Biomedical Growth in Seattle

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SEATTLE, Wash.--Demand for specialized biotech and biomedical office space outstrips supplies here in the nation's fifth largest biotechnology center, according to a recent study conducted by the Washing ton Biotechnology and Biomed ical Association. Biotech and medical technology firms in Washington, 90 percent of which are located in the Seattle area, already occupy 4.4 million square feet of facilities. Available space will be absorbed by June 1998, the report projected, forcing start-up and expanding medium-sized firms to locate outside of the Seattle research center hub.

"The shortage presents an untapped opportunity for real estate developers, design-to-suit builders, and real estate investors," WBBA President Tom Ranken said.

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