Despite a recent rise in life sciences vacancy driven by recently delivered buildings 100,000 square feet (sf) and greater that remain unleashed in high bay cGMP buildings, the Raleigh-Durham market remains tight for smaller size ranges with the benefit of continued R&D leasing. Presently, the market has nearly 1.6 million square feet (msf) of active tenant requirements. This total has decreased modestly from the peak demand recorded in mid-2022 but the R&D segment of tenant requirements has remained steady over the past three quarters. 

Looking ahead, the life sciences market in the Triangle is poised for continued growth, driven by active tenant requirements and ongoing investment. Global life sciences firms contribute to the market’s vibrancy, while North Carolina universities play a pivotal role in nurturing talent and supporting the state’s position as a hub for life sciences innovation.  

This report leverages Cushman & Wakefield's robust life sciences research and data to highlight vacancy, demand, and company growth across Raleigh-Durham’s life sciences market. It also emphasizes North Carolina’s higher education system’s investment in the life sciences industry. Cushman & Wakefield maintains vigorous data by separating out a specialized inventory, allowing for personalized analysis of this burgeoning asset type.