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.
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.