United States Lab Space Now in Oversupply Mode

According to a recent report by JLL, nationwide lab space availability is now 30% and this is expected to rise further. “The report predicts rents will continue dropping and that it could take years before the local markets work through their supply backlogs.”  This is sobering as this segment of the industry was previously a mainstay and one where there seemed to be no barriers to continued growth. An associate of mine with a number of high-level degrees from prestigious universities told me this week that he has gone to over 100 biotech companies looking for employment and no one was hiring…