The life science industry is among the fastest growing asset classes in commercial real estate, and while there is plenty of opportunity, the industry is also facing rapid change. Pioneering concepts like genomics are driving demand, but require unique spaces. Bill Kane, president of East Coast and UK markets at BioMed Realty, says the industry needs to remain flexible to respond to these needs.

"It's an incredibly exciting time for this industry," Kane tells GlobeSt.com. "As a whole, the commercial real estate industry must adapt to and embrace this convergence by creating flexible spaces that address the current requirements of both life science and tech companies and can shift in the future as needs change."

According to Kane, genomics technology is at the top of the list of emerging uses that will adapt the industry. "It has had a profound impact on the industry and its potential to deliver therapies in incredibly efficient and precise ways," says Kane. "This move towards genomics has increased the pace that our tenants develop and process new science and to compete most effectively, many are seeking to cluster in dense urban areas that offer proximity to their peers and a deep bench of resources and talent."