SF Bay Area Life Sciences Vacancy Tight, Rent Growth Strong, with Remarkable Pre-Leasing Activity – Conversion Trend on the Rise to Support Demand

BURLINGAME/OAKLAND, Calif., January 31, 2019 – Increased investment and employment in the life sciences sector has driven life sciences related real estate to new heights, according to Cushman & Wakefield’s new report, Life Science: Great Promise & Rapid Growth. The research provides a big-picture overview of the life sciences sector and its impact on commercial real estate as well as more granular insights into 13 top life sciences markets in the U.S. and Canada. Thanks to an influx of venture capital as well as billions of dollars in funding from the National Institute of Health, the life sciences sector has grown nearly five times as fast as the economy since 2000, adding 85,000 jobs, with roughly 70% of that job growth (61,000) in the past eight years. This is primarily a response to an aging population with increased longevity. By 2030, there will be 73 million Americans aged 65 or [...]