- Low lab vacancy rates across life science markets reflect significant demand and limited supply of existing wet lab space.
- More than 36 million square feet of new construction is expected to be delivered in the top 14 life science markets across the United States.
- Institutional investors and landlords across the largest life science clusters are actively reevaluating “highest and best use” for their portfolios and are considering converting their properties to meet immediate life science demand.
- The concentration of life science investment volume as a percentage of total office volume reached a record high of 16.4% in 2020, more than double the 2019 figure.
- Average monthly pricing for United States life science investment sales has more than tripled from the May 2020 trough, reaching $627 PSF in December.
See also the updated 2021 Mid-Year: Life Sciences National Overview and Top Market Clusters.