Allen Institute Expands into New South Lake Union Life Sciences Building


The Allen Institute, a nonprofit biotech research institution, is expanding into a new life sciences and technology campus near its South Lake Union headquarters. The institute, started by late Microsoft co-founder Paul Allen and his sister, Jody, has over 650 employees and expects to continue growing into next year.

According to a report by Newmarket, Seattleā€™s South Lake Union life sciences market remains the tightest submarket for lab space, with virtually no new lab product delivering until 2024. Across the region overall vacancy for second-generation lab space is virtually nonexistent, with demand driving additional office-to-lab conversions and leasing activity in submarkets like Bothell.