Real estate is in high demand in the nation's life sciences clusters, as companies race to develop a COVID-19 vaccine, and as more corporations look to take advantage of expiring pharmaceutical patents.
Hubs are looking to use real estate to boost productivity as the growth of the global prescription drug market is expected to surpass $1 trillion by 2022, according to the JLL 2020 US Life Sciences Outlook. The top three hubs are Boston, San Francisco and San Diego, capturing 70% of venture capital in 2019.
New York, Los Angeles, and Philadelphia each increased their scores in the ranking after hitting new levels of venture capital, and the race for a COVID-19 vaccine is expected to drive up demand in pharmaceutical-heavy New Jersey.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nate Robson
Nate Robson is the U.S. Supreme Court and regulatory editor. Contact him at [email protected]. On Twitter: @Nate_Robson1.
