Despite a slowdown in leasing activity, U.S. life sciences construction pipeline remains elevated
![Top 10 US life science clusters for lab / R&D construction](/documents/191207401/195657258/2023-12-13+US+Life+Science+Data+Bite.png/79cb8048-c7d3-e936-6f79-44b9019eba1f?t=1702592204893)
- Over 50 million square feet of lab and research and development (R&D) construction is currently underway across the U.S., 62% of which is centered across three life science clusters: Boston, the Bay Area and Southern California.
- Boston and the Bay Area alone account for roughly 50% of the total lab/R&D construction taking place across the U.S.
- These supply injections are expected to place downward pressure on lab/R&D rents in markets like Boston, the Bay Area, and San Diego, where the brunt of construction is not yet leased.
December 14, 2023