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Analysis

A Record 21M-SF of Life Science Space Will Deliver This Year

79% of that space is slotted for Boston, San Francisco and San Diego.

By Kathy Rembisz | January 11, 2024 at 07:13 AM

The life sciences real estate market faces many challenges this year but is expected to remain durable due to a healthy and growing pipeline of approved drugs and increased corporate spending in the areas of research and development, according to CBRE.

From 2020 to 2022, the life sciences real estate sector experienced growth, followed by a cooldown in 2023. It is expected this market will continue to stabilize in 2024.

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