Volastra Therapeutics Moves to Alexandria Center in Midtown South
Volastra Therapeutics Moves to Alexandria Center in Midtown South
Volastra Therapeutics is relocating its operations from West Harlem to the Alexandria Center for Life Science. The biotechnology firm has signed a sublease for 18,120 square feet on the 11th floor of the property at 430 East 29th Street, according to CBRE Group, Inc..
The space is being subleased from Black Diamond Therapeutics. Volastra is moving its laboratory facilities from the Mink Building located at 1361-1369 Amsterdam Avenue in Harlem. The specific asking rent for the sublease was not disclosed, though CBRE reported that the average office asking rent in Midtown South was $85.73 per square foot in the second quarter of 2026.
The transaction was negotiated by CBRE, with Joe DeRosa representing the subtenant and John Isaacs representing Black Diamond. DeRosa noted that the move provides Volastra with laboratory infrastructure in a prime location to support the company’s scientific and corporate growth.
This lease activity aligns with recent trends for the landlord, Alexandria Real Estate Equities. Following recent earnings, executives indicated a rise in leasing momentum across the portfolio. The company has been navigating a period of oversaturation in the life sciences sector and federal funding cuts, but recent activity has focused significantly on backfilling recently vacated space.
What to watch
- Future leasing activity at the Alexandria Center for Life Science as backfill trends continue.
- Market reports for changes in Midtown South asking rents.
Source: original release