Scheer Partners Releases BioHealth Capital Region
Q3 Lab Market Report
It’s no secret that life science funding and demand for lab space is greater than ever as companies in the BioHealth Capital Region race to develop innovative new vaccines as well as cell and gene therapies.
Scheer Partners, a full-service commercial real estate firm headquartered in Rockville, Md and the leading provider of fully integrated commercial real estate services, recently published their Q3 Lab Markets Report for the BioHealth Capital Region, outlining the progress, challenges, and trends in the space.
Key Insights from the Report:
- Lab space has increased throughout the region, from Frederick County down the I-270 corridor and all the way up to Baltimore.
- Developers are largely setting their sights on converting existing buildings in the area to help quickly address the increasing demand for lab space. Ground-up developments are also being built.
- Ongoing supply chain issues have caused delays in construction as well as fluctuations in project pricing.
- Rental rates are increasing across all lab hubs in the DMV.
- The market is predicted to continue moving south into North Bethesda, with rental rates continuing to rise in 2022 and beyond.
If you’re interested in real estate trends be sure to stay tuned, as BioBuzz will soon be publishing our 2021 BioHealth Capital Region real estate round-up.
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Sarah Ellinwood is BioBuzz’s Managing Editor. A scientist by training and a science communicator at heart, Sarah specializes in making complex concepts understandable, engaging, and exciting. She received her Ph.D. in molecular and cellular biology with a focus in infectious disease immunology from the University of Maryland and is passionate about all things related to scicomm, peer mentorship, and women in STEM.