Shrinking Lab Leases Lead To Real Estate Reappraisal In Life Sciences The real estate and funding slowdown proliferating markets across the country has reached life sciences, decelerating the leasing market. In today’s supply-heavy environment, even the deals that are getting done have noticeably downsized, with small leases rippling throughout the lab real estate market. The trend is leading to a tenant-friendly market and a re-evaluation of strategy by life sciences landlords. “[Alexandria Real Estate Equities] wanted to see your cap table before you saw the building before. That’s not the case anymore,” Savills Executive Vice President and North America Life Science Practice Lead Austin Barrett said. “You have a tenant who wants to lease 5K SF, 10K SF, you’re going to get a meeting. You’re going to have options.” 
The biotech leasing ecosystem is fueled by early stage firms that want smaller leases for shorter terms, Barrett said. Tenants are trying to stretch their dollars in an uncertain period, which means reduced resources for real estate and growth hindered by fears of downsizing and extending beyond their runway.The difference between 2021 and… Read the full story here. | 
