The rapidly aging global population will continue to drive demand for breakthroughs in therapies and treatments for degenerative diseases that are more prevalent with age. This megatrend has led to record levels of both public and private funding for the biopharma industry and unprecedented demand for laboratory R&D space, wrote Paul Leonard, director of research, real estate, Americas, at Nuveen, in its March 2023 report.
The unprecedented success for the life sciences sector was the culmination of decades of research performed in just a handful of laboratory clusters in select cities across the United States.
To read the full report, click here.