Denver/Boulder is a growing and healthy life science real estate market. Life science companies are attracted to the market because of ties to top tier research universities, a highly educated talent pool and steady investment in life science research. Real estate investors have been drawn to the market in support of the life sciences ecosystem.
The Denver/Boulder market has roughly 6.2 million square feet (SF) of life science space. There is roughly 330,000 SF of life science under construction at a development called Red Tail Ridge https://data.revistalab.com/Property/851320 in Louisville, Colorado. The project envisions over 3 million square feet of life science, research and development space over phases. The project has received bond financing and Sterling Bay is serving as the project owner and developer.
The occupancy rate in Denver/Boulder is currently 81.8%. This is up 380 basis points from one year ago. Absorption in the market has been strong as occupied space has increased by roughly 294,000 SF during the past year.
The life science real estate market is primarily owned by private investors (76.6%) and real estate investment trusts (11.7%).
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