Figures

Philadelphia Life Sciences Figures Report Q3 2026

Corporate decisions are reshaping Philadelphia life sciences real estate

October 15, 2026 2 Minute Read

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  • Vacancy fell to 20.1% from 23.1% posted in Q2 2026, entirely driven by Burlington's purchase that removed 441,000 sq. ft. of vacant lab space from inventory.
  • Leasing totaled 95,947 sq. ft. in two University City deals: The University of Pennsylvania expanded by 60,500 sq. ft. at 3401 & 3440 Market St., and Eli Lilly renewed 38,347 sq. ft. at 3711 Market St.
  • Amid the lack of leasing activity, average asking rent fell $2.35 to $54.33 per sq. ft. NNN, the lowest level in the past four quarters.