RevistaLab
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.
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 …
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 …
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 …
Revistalab.com has been tracking vacancies and has an emerging time series available in several life science markets, including the 3 largest – Boston, San Diego and San Francisco/San Jose. When …
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.