The 2Q25 transaction data is in and the first half of 2025 looked similar to the back half of 2024. Across the US, 68 life science properties, totaling 7.3 million square feet, have sold over the past year. Since the start of 2024 we have seen the trailing-twelve-month numbers hover around 7 million square feet for 4 billion dollars. If we compare the activity to the other sector we track, medical office, the recent levels are proportionate despite differing fundamentals. Approximately 1.6% of life science square footage, and 1.7% of the medical office square footage has traded hands over the past year. Boston maintains an overrepresentation, with a third of the activity being attributed to it alone. An example of a Boston sale from 2Q25 was the purchase of Burlington BioCenter. As part of a strategic expansion, Northeastern University acquired this 109K sf property from MetLife Investment Management back in May.
