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The pandemic has had far-reaching effects on the world, including renewed investments in life sciences research, which has led to an increase in commercial and academic demand for lab space. New construction and even adaptive reuse opportunities are being priotized to meet demand, which is near immediate. “In its 2021 North American Report titled “Life Sciences on the Rise,” Cushman & Wakefield projects that as much as $90 billion in public and private capital will have poured into the life sciences sector in North America in 2021, a 29 percent increase over the $70 billion invested in 2020, which itself was 93 percent higher than the previous year.”
“This acceleration of the life sciences industry comes at a critical time, demonstrating the sector’s value and agility when the stakes have been so high,” that report states. Investors and developers are even looking to secondary and tertiary markets to meet the growth in this space, while engineering and architecture firms are adjusting to support the market demand.
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