Recent turmoil in the banking sector is causing many life sciences tenants to re-evaluate and "stretch their cash runway" as pressure from difficult fundraising conditions is crimping the incredible performance run for this asset class in the Greater Boston market, according to a new report from CBRE.
Boston returned to a normal pace in Q1 2023 after an unprecedented run from the onset of the pandemic that saw record growth in the sector, according to CBRE's Q1 Boston Lab Figures report.
"Macroeconomic headwinds that started to break through the Boston metro life sciences market in mid-2022 have shifted the fundamentals in Q1 2023, introducing some uncertainty to the sector," Eric Smith, CBRE, said in a prepared statement.
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