The life sciences sector logged another impressive quarter as employment ticked up by 5.5% and Big Pharma continued to gobble up space across the country, according to a new report from CBRE.
The overall lab vacancy rate in the top 12 US life sciences markets fell by 10 basis points to 5.2% in the second quarter of 2022, while the average lab asking rent in those cities ticked up 5.8% year over year.
The gains were notched even as funding from venture capital sources for life science companies in the US fell by 13.3% quarter over quarter and by 27% year over year. However, the rolling four quarter average funding was up 54.2% since the onset of the COVID-19 pandemic two years ago.
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