Q&A: The life sciences industry is keeping the office market afloat, says Cove CEO
Adam Segal, CEO of the real estate tech enablement platform Cove, discussed how the life sciences sector is a subset of the office market, combining lab and office space; how life science space is an attracting investment; and opportunities to redefine the office space.
Can you expand more on how life science is keeping the office market afloat?
Life sciences is a subset of the office market, meaning that it makes up a specialized portion for a particular user. For instance, based on the very nature of life sciences, it’s a mix of lab and office space. While overall economic forces have impacts on the life sciences sector, this is a sector of the economy which has been growing quite significantly over the past 10 years. This should translate to significant growth in this part of the economy, which will increase demand for life science commercial real estate space.
What are your overall views on the office market?