{"id":1004735990,"date":"2024-12-09T07:03:28","date_gmt":"2024-12-09T15:03:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004735990"},"modified":"2024-12-26T12:44:12","modified_gmt":"2024-12-26T20:44:12","slug":"the-most-active-life-sciences-markets-in-the-us","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-most-active-life-sciences-markets-in-the-us\/","title":{"rendered":"The Most Active Life Science Markets in the US"},"content":{"rendered":"\n

The life science construction pipeline remains resilient, with 54.7 million square feet of new space initiated between 2019 and October 2024, CommercialEdge<\/em> data shows.<\/p>\n\n\n\n

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Established life science markets continue to thrive, despite economic uncertainty. Image by Peter Lyons, courtesy of BioMed Realty<\/em><\/figcaption><\/figure>\n\n\n\n

Key life science clusters continue to thrive, even amid general economic challenges, because of their dependence on direct research and face-to-face collaboration.<\/p>\n\n\n\n

\u201cUnlike other industries where companies can operate remotely, life sciences rely heavily on hands-on research and in-person collaboration\u2014lab work simply can\u2019t happen over Zoom. This commitment to physical spaces has kept demand in established life sciences clusters<\/a>,\u201d Sonia Taneja, managing director for King Street Properties, told Commercial Property Executive<\/em>.<\/p>\n\n\n\n

While the life science construction pace has slowed in 2024, with only 2.2 million square feet breaking ground compared to 11.4 million square feet in 2023 and 16 million square feet in 2022, the sector has recorded substantial deliveries in previous years. Between the start of 2019 and October 2024, some 36.6 million square feet of lab space came online, including 10.5 million square feet in 2021 and 7 million square feet in 2020. This historical context underscores the robust foundation of the life sciences sector, which continues to support established clusters despite the general sluggishness.<\/p>\n\n\n\n

\u201cThe life science real estate sector is at a crossroads, with challenges but also signs of recovery<\/a>. Venture capital deployment is expected to increase as macro conditions improve. However, we should expect varied recovery timeline across different markets and submarkets,\u201d said Maddie Holmes, senior research analyst at JLL.<\/p>\n\n\n\n

Following the wave of new supply in 2024, Holmes added, \u201cthe new supply outlook improves significantly for 2025 and beyond. This respite in new supply will hopefully give the market some breathing space and the ability to absorb the current oversupply.\u201d<\/p>\n\n\n\n

Leveraging CommercialEdge data and expert insights, we delve into the dynamics driving these thriving markets, highlighting how their life science pipelines shape the broader landscape of U.S. commercial real estate.<\/p>\n\n\n\n