RevistaLab
Did you know there are over 30 markets with at least 2 million square feet of life science space? We typically focus on the premier hubs, but let’s shift to the medium sized clusters that could become large markets in the future
The Life Science real estate sector is closing out 2024 with a total of 21.2M square feet of project completions, pushing sector inventory over 400M square feet. This represents an …
To answer this question, we are going to break up the data into two categories, the top 3 markets (Boston, San Francisco, San Diego) and the rest of the US. We are showing the square footage of construction projects that are in progress, the amount of that construction that is still available to be leased (SF Vacant in Progress) and the vacancy percentage based on those numbers. The top 3 markets had a construction vacancy of . . .
The spotlight continues to be on the Life Science real estate sector as the industry works to absorb the significant amount of new inventory coming online. Nationwide, 23 million square …
Revista tracks life science properties across the entire U.S. and virtually every area has felt an impact from reduced space demand combined with overbuilding. That being said, not every life …
The first half of 2024 was slow going for life science property sales. About 1.5 million square feet traded hands, and the previous trend of declining activity continued. With rate cuts from this from this past September, are there any signs of a pivot? The chart below includes our preliminary data for 3Q and the
While activity among the real estate side of life science is going through a slow period, it is important to zoom out and examine the outlook of the sector in the long term. How is the need for lab space going to evolve over the next 10 years? One way to analyze the space needs is to observe the trend in employment. The chart below contains data from . . .
For those tracking the Life Science Real Estate Sector (LSRE) it should be no surprise that supply is growing currently.
It will come as no surprise to report that transaction activity was rather slow in 2Q24. Volume has been on a downward trend since the end of 2022, and the recent quarter is no exception. While the market sentiment has been consistent over the past year, it is crucial to keep tabs, especially as we approach a potential pivot point. Just under
In fact, the overall US occupancy rate is currently 89.7% as of 2Q24 and is down 320 basis points from 2Q23. The occupancy rate declines have been largely supply driven as the overall US inventory has grown by over 6% during the past year.
Over the past couple of years, life science real estate occupancy has been on the decline in the top markets. The top 3 markets represent over 1/3 of the US inventory and have the longest history as biotech clusters. Prior to 2022, there was generally a nice balance between . . .
The 2Q24 construction numbers show a continuation of the decline in new projects. The chart below shows the square footage of projects starting and completing construction on an annual basis. 12.2 million square feet have started construction in the past year, and 20.3 million have been completed. Beginning . . .
Life science real estate is clustered around the major markets. Boston, San Francisco, and San Diego are ahead of the curve when it comes fostering a life science ecosystem. It is interesting to compare these markets to the larger upcoming clusters, as well as the rest of the U.S. One aspect we can compare is . . .
The Research Triangle has long been established as a strong biotech market, referred to as such due to the dense research and technology presence in the triangle created by UNC, …
Revista recently hosted a webcast discussing the latest data and insights for the Life Science Real Estate industry as of 1Q24. Hilda Martin and Stephen Lindsey reviewed details on supply/demand, …
Outside of the core three clusters – Boston, San Francisco and San Diego – what are the largest markets? How are they holding up with all the new recent supply …
The DC-Baltimore area is now the 7th largest life science market that we track. With 12.7 million square feet of inventory, and 2.3 million square feet in the pipeline, it is a strong cluster for life science research. The chart below is a snapshot of the market in the 1st quarter of 2024. DC-Baltimore is experiencing . . .
Construction starts slowed in 2023 as funding levels came down and demand for Life Science space softened, but 2024 has begun with almost a complete halt in new construction activity. …
RevistaLab.com recently held its 4th quarter life science real estate update. Revista principals, Hilda Martin and Mike Hargrave presented RevistaLab data on construction trends, transactions, occupancies, supply/demand fundamentals across the …
It is no secret that inventory has been increasing lately in many life science real estate markets. Developers have been responding to increasing demand for new space during the past years, especially coming out of the COVID-19 pandemic era
Life Science real estate transaction volume picked up at the end of 2023, according to newly released data from www.revistalab.com.