The market has traditionally been suburban focused for life sciences occupiers. A new trend is emerging, drawing lab users to downtown. In recent years, downtown Durham has developed pockets of urban lab options largely fueled by the demand of Duke University. That anchor demand has allowed other nonaffiliated anchored lab spaces to succeed in the Central Business District.
Users of life sciences space continued to grow despite the tempered demand for office space over the last year. With low supply, there is a rush for developers/owners to step into the life sciences space to provide more options. It is too soon to tell if developers who have not worked in this sector previously can break into this highly-specialized industry.
For more, check out the graphic below or view the 2021 Life Science on the Rise – North American Report.