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2023 ‒ a challenging year: US vs UK life science markets
Life sciences companies were forced to do more with less in 2023. The US leasing and real estate capital markets felt this pull back just as new life sciences supply was delivering at scale to the market. The US market, the largest in the world, contains 193 million square feet of R&D lab space with another 38 million under construction. The top three US markets of Boston, San Francisco and San Diego account for a combined 117 million square feet, or 61% of all lab space in the US….