The life science construction pipeline has shown resilience, with 54.7 million square feet of new space launched between 2019 and October 2024, according to CommercialEdge data. Key life science clusters remain strong despite broader economic challenges, driven by their reliance on direct research and in-person collaboration. Although construction activity slowed in 2024—with only 2.2 million square feet breaking ground compared to 11.4 million in 2023 and 16 million in 2022—the sector benefited from significant deliveries in prior years. From 2019 to October 2024, approximately 36.6 million square feet of lab space was delivered, including 10.5 million square feet in 2021 and 7 million square feet in 2020. This historical performance highlights the sector’s robust foundation, which continues to sustain its key clusters amid slower growth.

*Article courtesy of Commercial Property Executive

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