Once the nation’s second-largest life sciences hub in 2015, New Jersey slipped to fourth place by 2024 — a reminder of how this competitive industry has shifted so quickly in the last decade.
The New Jersey life sciences market is poised to add a total of 565,000-square feet of space , a 6 percent expansion of its life sciences stock, making it the 8th-largest active pipeline among U.S. markets in the study.
New Jersey’s life sciences sector’s total is 9.88-million-square feet, which is the 4th-largest, behind only Boston, San Francisco and San Diego.
Life sciences real estate had a remarkable run during the pandemic as biotech hubs like Boston and San Francisco saw lab space demand climb as traditional office markets struggled with remote work shifts. But now, rising interest rates, a wave of new supply, and the newly announced government funding cuts are reshaping the landscape.
As such, the sector isn’t slowing so much as recalibrating. Still, with venture capital funding showing signs of a rebound, there’s cause for conservative optimism in 2025.
– Compiled from a CommercialSearch Report.
Read the full report here: https://www.commercialsearch.com/blog/2025-life-sciences-construction-report/
