Cushman & Wakefield has released its report on impacts to the life science sector resulting from COVID-19.
The report offers macro insight into this specialized sector as well as a closer look into 12 featured markets — Baltimore, Bay Area, Boston, Chicago, Los Angeles/Orange County, New Jersey, New York, Philadelphia, Raleigh-Durham, San Diego, Seattle and Suburban Maryland — that have high concentrations of life sciences companies, incubators and venture capital.
Greg Bisconti, executive managing director with Cushman & Wakefield’s life sciences practice group, said, “Like most of the U.S. economy, the life sciences sector paused in early March as the uncertainty of the impact of COVID-19 made business leaders cautious. As it has become clear that life sciences is part of the solution, funding for research has risen sharply, and this sector now finds itself in rapid growth mode. This has led to a surge in demand for lab and office space by the life sci
