7.3M Square Feet Traded over the Last Year
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 . . .
Employment Trends in the Top Markets
How have the core life science clusters held up with regards to life science employment? Employment is an important indicator of an industry’s health and gives a look into how the sector is handling the economic circumstances. The . . .
Self-Developed Projects Still Breaking Ground
Over the past year a little over 10 million square feet of life science projects have broken ground. While that’s only a fourth of the peak in 2022, it still seems high considering the current gap between supply and demand. To understand . . .
Manufacturing: A Healthier Subsection of Life Science Real Estate
20% of the life science space Revista tracks is pure manufacturing. Despite the oversupply of lab properties, the manufacturing sub section does not suffer the same issues. Manufacturing space is primarily driven by . . .
First Look at 1Q25 Life Science Transaction Activity
Revista recently released data for the 1st quarter of 2025. The preliminary transaction data shows 14 life science properties traded hands during the quarter. As per the chart, 70 properties traded over . . .
Absorption Across the Top 20 Life Science Markets
Despite declining occupancy in 2024, it was a largely positive year on the demand side. 70% of the top 20 markets had positive absorption in 2024. Boston gained about 3.7 million in occupied space throughout . . .
Life Science Growth by State
How much has the life science real estate sector grown over the past decade? In the table below we are looking at growth from 2014-2024 for life science inventory & employment. The inventory growth is for all . . .
Life Science Sales in 2024: Who Bought & Who Sold?
Preliminary data shows a total of $3.16 billion for life science sales in 2024, totaling 5.17 million square feet. This is equivalent to about half of the volume recorded in 2023. Yearly volume has maintained a consistent decline since 2022, and 2024 has yet to show a clear reversal. On a positive note, if . . .
Smaller Life Science Markets that are Expected to Grow in 2025
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
What Percentage of the Life Science Construction Pipeline is Pre-leased?
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 . . .
Life Science Transaction Activity: What is the Data Showing for 3Q?
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
R&D Employment Projection
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 . . .
Cap Rates for Life Science Deals Shifted Up in 2Q24
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
Life Science Construction Update 2Q24
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 . . .
Ownership Composition: Top Markets vs. the Rest of the US
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 . . .
Market Spotlight: DC-Baltimore
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 . . .
Cap Rates Scooting Up for Life Science Transactions
The cap rates for life science real estate deals have been increasing after reaching a low point in the fourth quarter of 2021. The compression down to 4.2 coincided with a peak in transaction volume of almost 20 billion dollars on an annual basis.
Life Science Construction Pipeline Continues to be Strong
Across the U.S. there are 75 million square feet of life science properties that are under construction (In Progress), with the majority being completely new buildings. Conversions make up a sizeable chunk (11.9 million sf), followed by a smaller portion of expansions and renovations.