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As funding in life sciences actual property slows a bit, CBRE supplies a deep dive into which cities are seeing essentially the most curiosity from tenants proper now, and the way these statistics examine to the present market emptiness and quantity of pre-leased area beneath building.
Like different sectors of business actual property, biolab/life sciences area skilled some blowback from financial uncertainty and rising rates of interest final yr. For instance, the fourth quarter 2022 market report from industrial actual property providers agency CBRE notes that job progress slowed within the life sciences sector as corporations appeared to protect money readily available and that common emptiness on the nationwide stage rose by 60 foundation factors between the third and the fourth quarters, to five.7 %. In the meantime, 1.4 million sq. ft. of recent area was delivered to the market throughout simply the fourth quarter.
Total, nevertheless, life sciences actual property continues to be considered as a sound wager on another industrial actual property sector. The trick is to choose the particular properties you need to spend money on properly. Meaning making an allowance for market dynamics and the quantity of demand these buildings are more likely to generate within the near- and long run.
To that finish, CBRE supplies a deep dive into which cities are seeing essentially the most curiosity from life sciences tenants proper now, and the way these statistics examine to the present market emptiness and quantity of pre-leased area beneath building. Right here’s the breakdown of tenant demand dynamics within the 13 high life sciences markets within the nation.
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