A Look at the Worcester, MA Life Science Real Estate Market
he Worcester Life Science market lies in Central Massachusetts (MA) and serves as a natural growth point for life science companies looking to grow from the Boston/Cambridge CBSA.
Leasing/Property Management
Newer Life Science Properties Driving Occupancy Losses Across the Sector
The US Life Science or Biotech real estate sector has seen tremendous growth during the past 3 years. Overall, since 2Q22, the US Life Science sector has grown by 17% to 401 million square feet (MSF) in 2Q25.
Oversupply Presents Opportunity for Established Pharma
With many state-of-the-art, brand-new research facilities sitting empty across major research clusters in the U.S., established pharmaceutical and biotechnology firms have an opportunity to secure ideal spaces in prime locations. …
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 . . .
New Deliveries, Older Properties Most Impacted by Oversupply
Last year Life Science inventory in the top 3 clusters, Boston, San Francisco & San Diego, grew by over 10%. With this incredible growth, combined with softer space demand, many …
Life Science Deliveries Stall in 1Q, Pipeline Still Significant
After a record year of Life Science construction in 2024, early 2025 brings a much needed stall in new project deliveries. In 2024, 22.8 million square feet of Life Science …
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 . . .
Established Micro Clusters More Insulated from Market Cycles
With a significant amount of new inventory entering the market and weaker demand for space due to the volatile funding environment, the top three life science real estate markets—Boston, San …
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 . . .
4Q Life Science Inventory Reaches 400 Million Square Feet
The Life Science real estate sector is closing out 2024 with a total of 21.2M square feet of project completions, pushing sector inventory over 400M square feet. This represents an …
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 Occupancy Flattens in 3Q
The spotlight continues to be on the Life Science real estate sector as the industry works to absorb the significant amount of new inventory coming online. Nationwide, 23 million square …
Life Science Cluster Performance Varies Widely
Revista tracks life science properties across the entire U.S. and virtually every area has felt an impact from reduced space demand combined with overbuilding. That being said, not every life …
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 . . .
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 . . .
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, …