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Life Sciences 2020: The Future is Here

Innovative technologies and aging demographics are driving a wave of demand for R&D space, diagnostic centers and healthcare facilities.

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Innovative sectors such as cell and gene therapies, artificial intelligence and ancestry and genetic testing are all forecast to grow in the next five years, some as much as 37%, driving demand for R&D space, diagnostic centers and healthcare facilities, according to Life Sciences 2020: The Future is Here report.

Key Takeaways:

  • With a growing and aging global population, capital investment and scientific advancement are at a historic high.
  • NIH, venture capital and corporate R&D invested an estimated $125 billion in pharmaceuticals and life sciences in 2018.
  • Life science-related growth was three times stronger than total U.S. employment last decade.
  • Greater demand for lab and office space has resulted in a 12-msf new construction pipeline in key markets.
  • Boston/Cambridge and the San Francisco Peninsula each have 20+ msf of space. Boston/Cambridge has nearly no vacancy.

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Read the Report - Baltimore
Baltimore

A strong talent pool and abundant research funding at University of Maryland and Johns Hopkins are driving the success of this market.

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Read the Report - Boston
Boston

The second-largest life sciences market in national also boasts a vacancy rate close to 0%.

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Read the Report - Chicago
Chicago

This market is historically dominated by Big Pharma but starting to see an influx of incubators.

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Read the Report - Montreal
Montreal

Home to one of the world’s largest AI research superclusters, Montreal also benefits from low tax rates and strong government incentives.

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Read the Report - New Jersey
New Jersey

The state has increasing numbers of small and mid-tier life sciences companies in recent years, including some noteworthy spinoffs.

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Read the Report - NYC
New York City

This major market is gaining additional momentum as 2.6 million square feet of dedicated office and lab space will come online over the next three years.

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Read the Report - Oakland
Oakland / East Bay

The East Bay is primarily a start-up, equity backed market with steadily increasing demand.

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Read the Report - Philly
Philadelphia

The Greater Philadelphia region is one of the largest life sciences hubs in the U.S, employing more than 49,000 people in 800 life sciences companies.

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Read the Report - Research Triangle
Research Triangle (NC)

The Raleigh/Durham area is the home of three major research universities, resulting in a ripe talent pipeline in addition to a low cost of doing business.

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Reand the Report - San Diego
San Diego

This dynamic life sciences region has had five straight years of positive net absorption in the nearly 20 million square feet of lab space.

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Read the Report - San Francisco
San Francisco & Peninsula

The largest life sciences market in North America is home to major Bay Area research institutions including Stanford, UCSF and UC Berkeley.

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Read the Report Seattle
Seattle

Nearly 800 life sciences companies employ more than 36,000 people in the Puget Sound region, with biotech and R&D leading the charge.

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Read the Report - Toronto
Toronto

Toronto houses more than one-third of Canada’s office inventory, and is home to more than one-half of the pharmaceutical companies in the country.

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Read the Report - Washington DC
Washington D.C.

Vacancy has plummeted here as biotech companies in the I-270 Corridor and Frederick County experience explosive growth.

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