Over the last twelve months, Revista only logged a single new life science conversion project. There are a handful of conversions that have been in progress since 2025, but in 2026, one 34k sf project is the only news. So far, 2026 has brought significantly less overall construction activity than 2025. It seemed we were reaching a stable level of about 11 million square feet in starts on an annual basis, driven by pharma development, particularly manufacturing. That trend didn’t hold for much longer than a year, when in 2Q26 that floor dropped and moved the sector down to the current level of 6.6 million.
6.6 million equates to a 1.6% inventory growth rate, which seems relatively strong. However, it is not uniform across markets, with the top 3 hubs generating enough starts for only a 1.2% growth rate. To get an in-depth update on the Life Science & Medical Real Estate industry, make sure to catch our open access webinar happening tomorrow. Register Here
