05/22/2024 | Press release | Distributed by Public on 05/22/2024 06:11
by John Conrad| May 22, 2024| Member News
The life sciences sector in the U.S. is experiencing a turning point. JLL's first U.S. Life Sciences Property Report indicates a rise in lab space demand after a period of softening. This positive trend is fueled by several factors, making the coming months bright for the industry.
Key Trends Shaping the Market:
Insights:
JLL experts believe the industry is on the cusp of an exciting resurgence. Travis McCready, Head of Life Sciences, Americas Markets, at JLL, attributes this optimism to factors like continued company creation, abundant venture capital funding, and substantial resources at the disposal of big pharma companies for acquisitions.
Kevin Wayer, Division President of JLL Life Sciences, emphasizes the importance of acting now for tenants seeking space. He anticipates increased competition as venture capital becomes more readily available in 2025 and beyond.
Looking Ahead
With a positive shift in demand and improving market fundamentals, the life sciences real estate sector in the U.S. appears poised for a robust comeback.
This article was originally published on iBIO NewsBrief. Gain a head start on your day with iBIO NewsBrief. Subscribe to receive top industry headlines delivered straight to your inbox.