Lab vacancies across the top 13 U.S. life sciences markets increased in the first quarter of 2023, providing relief for companies that had found little available space in recent years, according to CBRE’s report. Average vacancy rose by 170 basis points from a year earlier to 6.7%, compared to 7.7% at Q1 2020 before the pandemic spurred activity in this sector and reached its low point of 4.6% during Q2 last year.
Other indicators showed signs of cooling off from an extremely hot market: Despite layoffs announcements, U
