Type to search

Commercial Real Estate Economics News

Report says life-sciences lead regional real estate growth


Philadelphia’s Navy Yard is one of the urban research hubs driving the life-sciences sector

The life-science industry is leading economic growth, and in turn real estate development, throughout the Philadelphia region, according to a new report from market insight firm CBRE.

The sector, which includes pharmaceuticals, biotechnology and medical-device manufacturing, has seen significant growth due to an aging U.S. population and increases in public and private funding.

“Many solid trends support strong growth going forward for the life-sciences sector, especially in major R&D markets,” said Ian Anderson, CBRE director of research and analysis and lead author of the report. “The Philadelphia region is particularly well-positioned with a strong industry presence in University City, the Route 202 corridor, and the Navy Yard, among others. The market for lab space in these submarkets offers several secular growth drivers and constrained supply.”

CBRE noted that the sector lost one third of its drug manufacturing employment between 2001 and 2016, but it gained jobs in urban centers such as Philadelphia’s Navy Yard and University City.

The full report is available here: http://www.cbre.us/research-and-reports/2018-US-Life-Sciences-Report?utm_source=press-release&utm_medium=media&utm_content=usa&utm_campaign=2018-US-Life-Sciences-Report



Get the free DBT email newsletter  

Follow the people, companies and issues that matter most to business in Delaware.


You Might also Like

Leave a Comment

Your email address will not be published. Required fields are marked *

Get the DBT Book of Lists

The definitive publication of contacts and key information from over 1,500 of Delaware's top businesses and organizations across 60 industries. 

No, thank you.

Free for a limited time! (Normally $50)

Stay updated with our free email newsletter

Keep up with the issues, companies and people that matter most to business in Delaware.

No, thank you.