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Home / Industry News / In Place Rents Rising in Biotech’s Top Markets

In Place Rents Rising in Biotech’s Top Markets

September 30, 2022 by Mike Hargrave Topics: Industry News, Revista News

In place rents have been on the rise within the Life Science sector’s top 3 markets (Boston, San Diego and San Francisco).  Data is gathered by https://www.revistalab.com/ and is based on leases commencing each year in the top 3 markets.  The data shows that average base rents for leases commencing in 2022 are $65.72/SF.  This is up 9.2% from $60.20 in 2021 and also represents a 34% increase from leases commencing in 2016.  This increase is undoubtedly related to the supply/demand imbalance we wrote about recently.  

Average in place rent escalators are currently averaging 3.1% within the top 3 markets.  This has steadily increased over the past few years 2.9% last observed in 2019.  

Join us October 13 and 14 in Boston at the Boston Harbor Encore Hotel as we take a deeper dive in to current in place and asking rent trends for the Life Science Sector.  In addition, please check out our new data service https://www.revistalab.com/  which contains both asking and in place rent data for life science properties.

Mike Hargrave
Mike Hargrave

Other Articles by Mike Hargrave:

    • What are the Top Construction Markets for Life Science Real Estate?
    • Transaction Activity Slows within the Life Science Real Estate Sector

Previous Post:Who Owns Life Science Real Estate?
Next Post:Curious to Learn more about RevistaLab? Come join us for the launch next week!

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  • In Place Rents Rising in Biotech’s Top Markets

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