Newmark Group Inc.

08/12/2022 | News release | Archived content

2022 Mid-Year Life Science Overview & Market Clusters

2022 Mid-Year Life Science Overview & Market Clusters

Life science remains well-positioned to continue as one of the most sought after and top performing niche sectors in real estate despite recent macroeconomic deceleration, as both tenant and investor demand for laboratory, incubator, and biomanufacturing (GMP) space improved significantly throughout the COVID-19 pandemic.

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Key Takeaways

  • Pricing for life science and R&D assets remains at a record high, hitting $564 per square foot in 1H22.
  • Life science venture capital funding declined by 18.5% year-over-year to $20.8 billion in the first half of 2022.
  • Mirroring the slowdown in venture capital funding, life science investment activity declined 33.6% to close 1H22 at $7.7 billion.
  • The top ten owners of life science wet laboratory / R&D space total 116.7 million square feet, 70% of which is owned by public or private REITs.
  • Boston, San Francisco, San Diego and Raleigh/Durham remain the top life science clusters in the United States and collectively comprise more than 93 million square feet of laboratory and GMP space and have a future construction and renovation pipeline of 33.2 million square feet.
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Country Afghanistan Aland Islands Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire, Saint Eustatius and Saba Bosnia and Herzegovina Botswana Bouvet Island Brazil British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos Islands Colombia Comoros Cook Islands Costa Rica Croatia Cuba Curacao Cyprus Czech Republic Democratic Republic of the Congo Denmark Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macao Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea Northern Mariana Islands Norway Oman Pakistan Palau Palestinian Territory Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Republic of the Congo Reunion Romania Russia Rwanda Saint Barthelemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Virgin Islands Uganda Ukraine United Arab Emirates United Kingdom United States United States Minor Outlying Islands Uruguay Uzbekistan Vanuatu Vatican Venezuela Vietnam Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe
Email Address is required

I would like to receive the latest updates from Newmark

By submitting your data through this form, you confirm that you are above the age of 18, that you have read and understood the Privacy Policy, and that you agree to the collection, use and processing of your Personal Information by Newmark & Company Real Estate, Inc. in accordance with said policy.*
Thank you for sharing your information with Newmark!
Download The 2022 Mid-Year Life Science Overview & Market Clusters Report

For Additional Information, Contact:

James D. Kuhn
President and Head of Investor Services
Jonathan Mazur
Executive Managing Director, National Research
Elizabeth Berthelette
Director of Research, Boston
David Bitner
Executive Managing Director

Additional Thought Leadership

2021 Year-End Life Science Overview & Market Clusters

In 2021, life science remained one of the top performing niche sectors in real estate, as both tenant and investor demand for laboratory, incubator, and biomanufacturing space have accelerated throughout the COVID-19 pandemic.

2021 Mid-Year: Life Science National Overview & Top Market Clusters

Life science real estate in 2021 continues to benefit from unprecedented levels of institutional investor and tenant demand across the major markets.

2020 Year-End: Life Science National Overview & Top Market Clusters

All early indications point toward life sciences real estate being among the most resilient property subtypes during the crisis and one of the best secular, long-term growth opportunities once the crisis ends.