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U.S. Life Sciences Markets Poised for Outsized Growth
The U.S. life-science industry, and by extension the real estate that supports it, is being driven to strong growth by multiple factors. A new report from CBRE reveals R&D centers like Boston and California’s Bay Area are ideally positioned for outsized gains.
While many U.S. industries are navigating fundamental disruption, the life-sciences industry is on a long-term expansion track. CBRE’s Ian Anderson notes, “Many solid trends support strong growth going forward for the life-sciences sector, especially in major R&D markets. The market for lab space offers several secular growth drivers and constrained supply.”
Key CBRE report takeaways:
– Employment in U.S. life sciences has risen by 23.5% since 2001, outpacing the overall job-growth rate of 10.2%
– Lab-space vacancy rates are tight in primary life-sciences markets, registering at less than 2% in Chicago, 4% in the Bay Area and less than 5% in Boston
-Rent growth is robust, including a 50% increase in Boston’s Cambridge submarket since 2013
– Venture capital investment in the U.S. life-sciences industry now is 53% greater than 10 years ago
For comments, questions or concerns, please contact Dennis Kaiser


