The gap continues to widen between supply and demand in the life sciences sector across the largest US cities, with companies in the space seeking nearly 24 million square feet of new real estate in the third quarter alone.
That figure exceeds the amount of lab space under spec construction, according to new research from CBRE, by nearly 2.8 million sq. ft. And the pace of demand shows no sign of slowing, the firm maintains: even as construction ramps up, demand continues apace, driven in part by the ongoing need for vaccines for COVID-19 and other viruses.
Premier markets are leading the way for the sector, with Boston, San Francisco, and San Diego dominating. Those three markets captured 70% of all venture capital in the US last quarter.
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