Market Highlights

• The San Francisco Bay Area is experiencing an increase in vacancy as newly delivered projects remain empty. Still, developers are bullish and are moving forward with construction plans in the area.
• Biopharmaceutical company, Kriya Therapeutics, raised over $430 million in Series C funding to move its gene therapies into clinics.
• The mayor of San Francisco has proposed to change zoning regulations and mandate an accelerated approval process to ease conversion proposals, specifically lab space, to combat high office vacancy.

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