San Francisco Bay Area Life Science Figures Q2 2022

July 22, 2022

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The Bay Area life science market continued its trajectory of expansion in Q2 2022. The market vacancy rate fell 30 bps from the previous quarter to 5.8%, resulting in net absorption of 318,084 sq. ft. in Q2 2022. Through the first half of 2022, net absorption (existing product) totaled 602,090 sq. ft., a bit off the pace set in the first half of 2021 (1.0 million square feet); however, still a positive indicator of growth for the market. Since 2014, the market’s occupancy has grown by nearly 10 million square feet, fueled by both increased demand by life science users and developers building state-of-the-art facilities mainly focused along the Peninsula and Oakland East Bay markets.