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Market Highlights
- Overall vacancy decreased 190 basis points year over year to 21.2%, while available space declined by 700,000 square feet (sf) to 2.5 million square feet.
- Venture capital funding fell sharply in 2026, with just $184.7 million raised across 50 deals through Q3, down 84% year over year amid a more selective funding environment and fewer large rounds.
- Genentech topped out its $2.0 billion, 700,000-sf manufacturing facility in Holly Springs, its first East Coast facility. Operations are expected to begin in 2029 and create 500 permanent manufacturing jobs.