While the life science real estate market may be slowing to some, life science experts believe it is still strong and stabilizing itself after vacancies fell to historic lows in 2021.
Hans Kemp, veteran life science broker and leader of CBRE’s Northwest life science practice, thinks the market can expect to see recovery and tenant demand bounce back with new tenant requirements. He’s not alone.
“Today, venture capital is sitting on “quite a bit of money,” said Marc Cummings president and CEO of Life Science Washington. “Over the last two decades, the industry has run countercyclical to other sectors. When other industries falter, biotech does too but not as much.”