Although the year-to-date volume is indeed stronger than what many might have anticipated at the outset of the pandemic, Q4 will need to be a strong one to keep pace with the MOB sales volumes of recent years.
The Lone Star State is a rapidly emerging biopharma hub, with more than just a lone focus on oncology. Some of the top up-and-coming biopharma companies, and real estate powerhouses are anchoring major new developments with them.
The Colorado medical office building market comprises 23.9 million square feet of total space. Of this amount, approximately 17.6 million sf, or 74%, is located within Colorado’s two largest core-based statistical areas.
Any real estate decision made today will have real-world implications for years to come, so it’s imperative that companies get it right and meet the demand for prescription drugs, personalized medicine, gene therapies, and other emerging solutions.
With companies offering to rent to the lab supplies that life sciences companies need, it is possible to convert conventional office spaces to meet research needs. But those transitions aren’t easy. Just building walls and putting in a lab bench won’t do the trick.