State Of Lab Real Estate: How The Biggest Markets Are Slogging Through Supply

After eclipsing office during the pandemic, the once-booming lab real estate market is falling back to Earth. As recent reports and data show, life sciences space is now showing many similarities to other struggling real estate sectors.
JLL’s recent lab properties report showed a 29% jump in tenant demand in San Diego, San Francisco and Boston last quarter. But despite that growth, these markets still face significant headwinds. Big developers are evaluating their construction projects amid oversupply issues, and a flight to quality is leaving older, second-generation spaces desperate for tenants and leasing activity. 
Large players are shedding underperforming assets, with Alexandria Real…
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