With increased concessions, more rental discounts and, perhaps by the end of the year, lower rents for labs, the increase in supply continues to alter today’s life sciences real estate market. It is a quiet echo of the sector’s boom in 2021, when record venture capital funding and soaring demand helped finance many of the projects coming online right now.
Relative to the ultra-tight vacancies of just a few years ago, today’s increased supply isn’t a glut. But during a time of cooling demand, new lab space has created a more tenant-friendly market, with increasingly available sublease space and more new…