The efforts to develop a Covid-19 vaccine accelerated the already strong demand for life sciences real estate in Maryland, and tenants now want lab space faster than developers can build it.
The market's vacancy rate has fallen so low that life sciences companies often can't find space that meets their time-sensitive needs, experts say, leading them to look to other markets.
Image: Courtesy of Matan Cos. A rendering of one of Matan Cos.' Progress Labs buildings on the I-270 corridor.