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Analysis

Life Sciences Challenged By Overbuilding

Since last year, both demand for lab space and funding have diminished.

By Philippa Maister | September 24, 2024 at 05:22 AM

It may have been a spirit of “irrational exuberance” that sparked a surge of new construction and a flood of private investment in the life sciences following the Covid pandemic, but that surge is now being tempered by reality.

Former Fed chairman Alan Greenspan coined the phrase “irrational exuberance” to describe the risk of unduly escalated asset values during the dot-com bubble of the 1990s. A new report on office space by CommercialEdge suggests a similar pattern in the life sciences since 2020.

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