All the fundamentals are aligning for the life sciences industry, as Covid-19 accelerates already growing demand for real estate in the sector.
Rents are rising for lab space, vacancies are plunging and research and development, and employment and new development are expanding further, thanks to strong venture capital investment.
In the top life sciences markets there’s currently about 13.9 million square feet of space under construction, but active tenant demand is outpacing that, running at about 14.7 million square feet, according to a new report from CBRE. Lab-space vacancy is historically low at less than 8% percent in most top life sciences markets, pushing rents higher.
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