【World Property Journal】Covid Drives Growing Gap Between Demand and Supply of New Life Sciences Facilities

Based on a new report by CBRE, demand for new life sciences lab space is outpacing speculative construction in the top 12 U.S. life sciences hubs as the industry rapidly expands amid a global race for new drug development.

Life sciences companies collectively sought nearly 23.8 million sq. ft. of new lab space across those 12 markets in this year's third quarter. That exceeds the amount of lab space under spec construction - meaning space being built without a tenant already signed - by nearly 2.8 million sq. ft. That gap has widened steadily since last year; Even as construction has ramped up considerably, growth in demand continues to outpace it.

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