Revistalab.com has been tracking vacancies and has an emerging time series available in several life science markets, including the 3 largest – Boston, San Diego and San Francisco/San Jose. When looking at these markets we look at the amount of space available on a direct basis as well as the amount of space available through sublease offerings. Below is an emerging trend showing the amount of sublease space available is rising within the top 3 markets. As of 2Q23, the amount of sublease space available has risen from approximately 700,000 SF to 1.5 million square feet of life science space (within the top markets). That is a more than doubling of sublease space available. The amount of direct space available has also risen from 7.4 million square feet in 2Q22 to 8.7 million square feet in 3Q22.
Trends in individual market differ so please check Revistalab.com for current stats and trends. To learn more about revistalab.com please visit https://www.revistalab.com/subscriptions/ or contact Hilda Martin at hilda@revistacompanies.com.
