Under the Microscope
A Deeper Look at Raleigh-Durham’s Life Sciences Market
Vacancy within the Raleigh-Durham life sciences inventory continued to rise, hitting a new high-water mark of 32.3% in Q2 2025. The upward vacancy was driven by the recent delivery of buildings 100,000 sf or larger and policy changes to NIH funding. However, the market remains tight for smaller size ranges in R&D space within flex conversions and former office space. Nearly 2.3 msf of tenant requirements are currently active in the market, exceeding pre-pandemic figures though this total is down from the record high demand of mid-2022. While vacancy is elevated and the aforementioned policy shifts on NIH funding have created some headwinds, the life sciences market in the Triangle is poised for continued growth, driven by active tenant requirements and ongoing investment in the region. Global life sciences firms contribute to the market’s vibrancy, while North Carolina universities play a pivotal role in nurturing talent and supporting the state’s position as a hub for life sciences innovation.
This report leverages Cushman & Wakefield’s robust life sciences research and data to highlight vacancy, demand, and company growth across Raleigh-Durham’s life sciences market. It also emphasizes North Carolina’s higher education system’s investment in the life sciences industry. C&W maintains vigorous data by separating out a specialized inventory, allowing for personalized analysis of this burgeoning asset type.
