LSRE – Demand is Growing but not as fast as Supply
For those tracking the Life Science Real Estate Sector (LSRE) it should be no surprise that supply is growing currently.
The LAB Report
Here are 4 large Life Science Markets with Current Occupancy Above 90%
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.
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
Occupancy Rate Declining in Top Biotech Markets
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 . . .
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: Raleigh/Durham
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, …
RevistaLab Market Update Webcast – Listen to the Replay
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, …
Beyond the Big Three – What are the Largest Life Science Clusters?
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 …
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 . . .
Life Science Construction Grinds to Halt – Less than 1M SF Started in 1Q24
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. …
4th Quarter Life Science Real Estate Update – Slides and Webinar
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 …
Supply Growth Pressuring Occupancy in the Boston CBSA
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 Picks up in 4Q23
Life Science real estate transaction volume picked up at the end of 2023, according to newly released data from www.revistalab.com.
Construction Pipeline Pushes U.S. Life Science Inventory to 440 Million Square Feet
Revista research has been hard at work putting together the most comprehensive database of Life Science properties available. Currently, open inventory stands at just over 359 million SF with another …
San Francisco Shows Resilience in 2023
Many metros are struggling this year to absorb new Life Science inventory as funding has significantly scaled back and companies become more cautious on space needs. After struggling to absorb …
Life Science Construction Pipeline Stabilizes in 2Q23
The life science real estate construction pipeline, which had been rising throughout 2022 is beginning to show signs of stabilization. Measured by square feet in progress (SF Inprogress), Revistalab calculates …