Research

"Phoenix has witnessed four consecutive quarters of leasin activity and Q3 deal volumes Were the market's second highest since the pandemic's onset."

"Total availability decreased slightly to 19.9%, down 70 basis points from a year ago due to strong leasing activity which has steadily increased over the past three quarters."

"Availability increased 90 basis points from last year ending at 23.0%, the highest rate the market has ever seen as tenants continue to downsize.  "

"Leasing activity remained subdued throughout 2023, with the total leased space of 0.5 million square feet falling below the 5-year average of 0.8 million square feet for the third consecutive quarter."

"As of Q3 2023, leasing volume in the life sciences sector has experienced a slowdown after elevated activity in recent years."

"Boston’s current market gives prospective tenants an advantage as availability for built-out lab space is the highest it has been in over a decade."

"The State of Maryland established the Innovation Economy Infrastructure Act of 2023, providing $10 million in funding to cover specific costs of development across numerous tech sectors, including life science projects."

"Since 2017, the state Office of Economic Development and International Trade (OEDIT) has awarded more than 450 Advanced Industries grants to Colorado bioscience companies."

"LifeSci NYC – the $1 billion initiative to develop the life sciences industry in NY – announced that Science Park and Research Campus Kips Bay (SPARC), will add over 1.5 million square feet (msf) of academic, public health, and life sciences space by 2031."

"Despite ongoing economic uncertainty, Philadelphia developers continue to construct new lab space with start-ups still raising funding."