Life sciences developers in the top 12 US markets have doubled over the last three years
“The demand side of the industry remains very strong,” Brown said. “The major market drivers of good science, record-level funding and the new pandemic spotlight on the life sciences sector have combined with the limited but growing supply of quality ‘purpose-built’ research and process manufacturing space and the slowdown of demand for real estate in the office and retail segments of the market.”
Life sciences developers in the top 12 US markets have doubled over the last three years. The very specialized manufacturing facilities used to be a product that developers avoided, but things have changed with the evolution of both science and flexible construction techniques. This movement may become a fresh trend, but Brown cautions investors and landlords looking to reposition vacant segments of their traditional office portfolios due to the very detailed and expensive requirements of purpose-built life sciences space.