Q4 2024 Lab Market Overview Report
The Bay Area life science market recorded a 34.3% increase in transactions completed YoY. Both new deals and renewal/extensions increased at similar same rates – a positive indicator going into 2025.
Of the transactions that occurred in 2024, the largest increases were seen in transactions 10,000 square feet and less and 50,000 square feet and above. Each of these segments recorded a 61.1% and 100.0% increase, respectively.
Venture capital funding recorded a 9.9% increase YoY, a core industry driver for physical space needs. Much of this increase is attributed to an uptick in later stage funding for well-established companies.
Of the transactions that occurred in 2024, the largest increases were seen in transactions 10,000 square feet and less and 50,000 square feet and above. Each of these segments recorded a 61.1% and 100.0% increase, respectively.
Venture capital funding recorded a 9.9% increase YoY, a core industry driver for physical space needs. Much of this increase is attributed to an uptick in later stage funding for well-established companies.