高力国际（Colliers）：2026年美国生命科学地产市场展望报告（英文版）（48页）.pdf

1、2026 Life Sciences Market OutlookU.S.RESEARCH REPORTCONTENTSNational Overview .3Market Comparisons .8Market Rank Hierarchy .8Funding&Talent .9CRE Fundamentals .10Major Markets .12Boston .12Chicago .14Denver/Boulder .16New Jersey .18New York City .20Orange County .22Philadelphia/Tri-State .24Raleigh/

2、Durham .26San Diego .28San Francisco Bay Area .30Seattle .32Suburban Maryland .34Emerging Markets .36Houston .36Minneapolis/St.Paul .37New Haven .38Pittsburgh .39Salt Lake City .40St.Louis .41Major Leases .42Major Construction .44Major Sales .462|ContentsNational OverviewThe challenging macroeconomi

3、c environment is weighing on tenant demand.In 2025,biotechnology companies were forced to contend with a variety of factors that impeded their ability to grow and lease space.These issues ranged from weak stock market valuations that forestalled IPOs for many companies to reduced access to venture c

4、apital funding.PitchBook data indicates that 2025 was tied for the second fewest U.S.-based life sciences company IPOs over the last 35 years.More than$33 billion in venture capital volume was completed during the year.While healthy from a long-term historical perspective,this volume is 25%below the

5、 2020 to 2022 average at the height of the market,and in recent quarters earlier-stage firms have not been landing funding rounds at the pace seen in prior years.For some companies,this has led to layoffs and other cost-saving measures.Space absorption has suffered as a result,with 2025 marking the

6、second consecutive year in which the major market aggregate posted negative net absorption.As is the case across many corners of the CRE universe,overall investment activity in the life sciences sector is down.Source:Colliers*Excludes New York City4%6%8%10%12%14%16%18%20%22%24%26%(4)(2)0246810121416