It will come as no surprise to report that transaction activity was rather slow in 2Q24. Volume has been on a downward trend since the end of 2022, and the recent quarter is no exception. While the market sentiment has been consistent over the past year, it is crucial to keep tabs, especially as we approach a potential pivot point. Just under 8 million square feet of life science properties traded over the last year. According to Revista’s most recent transaction report, this number consisted of 51 different properties. This puts the average sold property at 156,181 square feet. Cap rates shifted up again, now at an average of 6.4 in the last twelve months. The movement in cap rates has been relatively steady, moving up an average of 23 basis points a quarter from the low point in 4Q21. Make sure to stay tuned as we continue to track the movement of the markets.
