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Linesights Life Science Lab Cost Benchmarking Study Yields First Insights, Collaboration is Key

Demand Outpaces New Construction in Life Science Lab Space

Life-science lab space has emerged as a coveted sector of commercial real estate as hefty increases in funding and employment have fueled both demand and construction in leading U.S. life-science markets, CBRE says in a new report.

Companies actively seeking life-science real estate in the first quarter targeted a cumulative 19.3 million square feet of lab space in the top 12 U.S. life-science markets. This represents more than 12% of the total existing life sciences space across these markets.

U.S. lab space under construction totaled 18.9 million square feet as Q1 ended. Meanwhile, tight vacancy—averaging 5.6% —is causing lab rents to rise to record levels in Boston, the San Francisco Bay Area and San Diego.

“Construction of new labs, including conversions of regular offices to lab space, has ramped up significantly,” said Ian Anderson, CBRE’s Americas head of office research. “But demand has grown even faster.”


Inside The Story

CBRE’s Anderson

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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