Research

"Woodstock Development plans to transform a three-building office and R&D campus at 600 Bancroft Way into a 247,647-square-foot (sf) life sciences hub."

"Abzena has expanded its quality control capabilities at its San Diego site, adding advanced microbiology testing and materials separation to meet growing regulatory demands and support scalable biopharmaceutical innovations"

"Leasing volume in 2024 totaled 3.1 million square feet (msf), up 21.9% from 2.6 msf in 2023"

"Leasing activity has remained in line with the five-year quarterly average for a third consecutive quarter"

"Asking rental rates for industrial space decreased by 2.4% over the past year and averaged $11.68 per square foot as of Q4 2024. Going forward, asking rents will likely continue to soften as new deliveries come online and vacancy rises."

"Although new product continues to come onto the market through new deliveries, many occupiers are opting to remain in their current locations and renew."

"Net absorption in Q4 2024 totaled 0.5 million square feet (msf), bringing yearto-date absorption to 2.4 msf, a sharp drop from 9.1 msfin 2023. This reflects ongoing tenant downsizing and reassessment of space needs, with leasing activity slowing across most submarkets."

"East Bay/Oakland’s vacancy reached 7.5% at the end of Q4, marking a 270basis-point increase from the previous year, as demand remains soft amid economic and political concerns."

"Edmonton remains one of the strongest performing industrial markets in Canada, posting 2.2 million square feet (msf) of positive absorption in 2024."

"Vacancy increased by 100 basis points (bps) in the fourth quarter to 7.1%, while net absorption was negative for the sixth consecutive quarter tallying 1.2 million square feet (msf)."