From public and private funding increases to the demand created by the COVID-19 pandemic and the vaccine rollout underway to combat it, the life sciences sector is seeing a significant increase in interest from both developers and investors. In addition, rapid growth in Advanced Therapy Medicinal Products (ATMP) science, which includes gene therapy, is driving demand for lab and manufacturing space from both early and mid-stage biotech companies.
All-important leasing data points, such as vacancy and net absorption, also compare favorably to the challenged office market, suggesting even more positive days could be ahead for the sector. In this report, we will analyze the factors contributing to these trends and take a closer look at 12 leading and emerging life science clusters across the U.S., each of which are examined in turn.
Source: Colliers Research