Despite market headwinds, life sciences real estate is still on the rise, new report says

While many companies have turned to remote working, leaving office spaces empty, science laboratories could be bucking that trend.

A bearish market and a decrease in venture capital funding and investments may not majorly affect the life sciences real estate in the long run, according to a new report.

Elizabeth Berthelette

“In the life science sector, the need for real estate has fared better than, say, traditional office situations where work-from-home schemes were implemented and still are in play today with hybrid work,” Elizabeth Berthelette, director of research at Newmark who was involved in the research, told Endpoints News.

“Scientists on the other hand need to be in labs,” she added.

Laboratory space collectively comprises more than 93 million square feet of the United States. Moreover, it has a future construction and renovation pipeline of 33.2 million square feet with…
Click here to view original post