G
inkgo Bioworks, a biotech firm that was once rapidly expanding, is now downsizing its presence in the Boston area. In November, the company announced it would not occupy its newly built office and lab space in the Seaport neighborhood just before its planned opening.

    The decision comes as Greater Boston faces an oversupply of lab space and intense competition for life-science tenants. Ginkgo is now offering its available space to other biotech companies looking to grow or relocate. Chief executive Jason Kelly invited potential tenants to reach out, saying the company has made progress on subleases but still has a significant amount of lab space available.

    Kelly's comments suggest that Ginkgo is eager to fill its vacant space and capitalize on the current market conditions. The company's decision to offer its space to others highlights the challenges faced by biotech firms in the Boston area, where the supply of lab space far exceeds demand.