The U.S. life sciences real estate sector is moving toward a gradual rebalancing as development activity contracts, investment sales recover and funding conditions strengthen, according to Cushman & Wakefield. While elevated vacancy and softer rents continue to weigh on near-term fundamentals, a reduced construction pipeline and improving demand indicators are positioning the market for healthier long-term growth.
U.S. life sciences asking rents averaged $64.17 per square foot in second quarter 2026, down 2.2 percent quarter-over-quarter and 5.3 percent year-over-year. Despite the decline, life sciences rents remained 37 percent above traditional office rents across the 12 major markets tracked by Cushman & Wakefield.
Vacancy remained elevated as the market continued to absorb re
