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Life Science Update December 2020

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In a year where fundamentals for many real estate products have trended downward, life science real estate has been a welcome outlier. Established landlords who specialize in providing lab space are now reaping the rewards with record inflows of capital, growing occupancy, and steady rent growth. Real estate companies large and small are attempting to enter the market via acquisitions, adaptive reuse, and ground up development. Current and potential tenants are also seeing record levels of fundraising and notoriety as they help in the fight against COVID-19, among numerous other causes. With aging demographics, an increased appetite for personalized medicine, and advancements in big data and genomics, the last decade primed the life sciences sector for outsized growth. The COVID-19 pandemic applied the needed pressure, and it appears the dam is breaking both nationally and in Puget Sound. 


Life Science Update December 2020

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Jacob Pavlik

Research Manager


Jacob Pavlik joins the Colliers team after working in the Economic Development and Planning departments for the cities of Hillsboro, Oregon and Alexandria, Virginia, respectively.  At Colliers, he leads a team of researchers to  collect, analyze, and synthesize market data for Puget Sound and Portland. He loves the challenge of taking complex data and making it easily digestible for a wide audience. He assists brokers with research specific to their client's needs, including geovisualizatoin and micromarket analysis.

His authentic passion for commercial real estate is seen most clearly when Jacob explores his local urban ecosystem and travels to new cities around the world to see how they function and relate to each other. He likes to see the built environment adapt to the changing needs, desires, and behaviors of the people who populate it. These functions fit perfectly into Jacob's role as Research Manager, telling the story of how commercial real estate in the Pacific Northwest evolves over time.

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