The rise in life science activity seen since 2020 has cooled in the face of tightening monetary policy and inflationary pressures. This summer there were no major sales of buildings in this sector. By contrast, several major leases have been signed since the start of the year, and developers do not appear intimidated by the slowing venture capital market. Part of this can be explained by demand for space. Two recent successful developments are Boren Labs and Dexter Yard. Oxford Properties’ Boren Labs has six of nine floors leased, Cornea Gen, Gentio Bio, Tune Therapeutics, and Icosavax collectively leasing almost 100,000 square feet of space in the 140,000 square foot building. Dexter Yard has over 300,000 square feet of space leased in the 500,000 square foot pair of buildings, to: Shape Therapeutics, Parse Biosciences, Outpace, AI2, and Monod Bio.
