Market Highlights

• A year-over-year increase of 290 basis points pushed overall vacancy to a record high of 24.8%, up from 21.9% in Q2 2024.
• In response to decreasing demand since the pandemic-era high, many developers have deferred or abandoned life sciences projects that were once slated for construction.
• Although NIH funding has remained stable, concerns over expected cuts have weighed on this year’s fundraising, which currently totals $739.4 million.

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