Serving currently as a "haven" for commercial real estate developers and investors, the life science sector is experiencing unprecedented expansion, with 2024 on track to become a record year for lab space deliveries, according to a new report from Yardi's Commercial Edge.
The anticipated surge in completions this year is expected to put downward pressure on the life science sector in the upcoming years, according to the report.
This "potentially" is leading developers to approach new projects with increased caution, Commercial Edge said.
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