Job MarketLife science job listings in ARE's markets continued to decline, with job listings soft relative to the 'go-go' years of 2020-2022, and below the average of '18-'19.
Market ConditionsNew supply continues to be an overhang, with high vacancy rates in the nation's two largest lab markets, the Bay Area and Boston.
Supply And DemandSupply/demand imbalance remains a concern for the asset class, which limits the growth outlook through '26 due to occupancy headwinds, narrowing re-leasing spreads, and minimal accretion from development.