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Volastra Therapeutics subleases 18,120 sf at Alexandria Center for Life Science
The biotechnology firm is relocating from a Harlem building to the Alexandria Center for Life Science, and the deal is part of Alexandria Real Estate Equities' reported leasing momentum.
Volastra Therapeutics is relocating its lab operations from West Harlem to Midtown South after signing an 18,120-square-foot lease at the Alexandria Center for Life Science, at 430 East 29th Street, according to Commercial Observer. The space is owned by Alexandria Real Estate Equities and sits on the 11th floor.
CBRE reported the transaction, and said Volastra will sublease the lab space from Black Diamond Therapeutics while moving out of the Mink Building at 1361 to 1369 Amsterdam Avenue in Harlem. CBRE did not disclose the asking rent for the sublease, but Commercial Observer notes that the average office asking rent in Midtown South was $85.73 per square foot in the second quarter of 2026, citing a CBRE report.
In a statement, CBRE negotiator Joe DeRosa said the move reflects Volastra's momentum and provides lab infrastructure in a premier location to support the company's next stage of scientific and corporate growth. Commercial Observer also links the firm's move to broader life sciences demand shifts, citing Alexandria's recent earnings outlook.
Commercial Observer further notes that Alexandria executives expressed optimism after several depressed quarters, attributing pressure to life sciences oversaturation post pandemic and federal research funding cuts. The outlet said Alexandria is seeing an uptick in leasing momentum, including backfilling recently vacated space.