Volastra Therapeutics Subleases 18K SF at Alexandria Center for Life Science

A biotechnology firm is relocating its lab space from West Harlem to Midtown South.

Volastra Therapeutics signed an 18,120-square-foot lease in the Alexandria Center for Life Science at 430 East 29th Street, owned by Alexandria Real Estate Equities, according to CBRE.

Volastra is subleasing space on the 11th floor from Black Diamond Therapeutics and relocating from the Mink Building at 1361-1369 Amsterdam Avenue in Harlem.

CBRE did not disclose the asking rent for the sublease, but the average office asking rent in Midtown South was $85.73 per square foot in the second quarter of 2026, according to a CBRE report.

“Volastra’s decision to establish its operations at the Alexandria Center for Life Science is a testament to the company’s momentum and long-term vision,” CBRE’s Joe DeRosa, who negotiated on behalf of the subtenant, said in a statement. “This transaction provides Volastra with best-in-class laboratory infrastructure in a premier location and supports the company’s next stage of scientific and corporate growth.” 

CBRE’s John Isaacs negotiated on behalf of Black Diamond.

Volastra isn’t the only one in the dynamic seeing growth.

Alexandria reported earnings on Tuesday in which executives expressed optimism after several depressed quarters, mainly attributed to oversaturation in the life sciences market following the pandemic and funding cuts to scientific research at the federal level.

Alexandria is seeing an uptick in leasing momentum across its portfolio. Much like with this sublease, a significant portion of that has been in backfilling recently vacated space.

Mark Hallum can be reached at mhallum@commercialobserver.com.