Under the Microscope
A Deeper Look at Raleigh-Durham’s Life Sciences Market
Vacancy in the Raleigh-Durham life sciences market peaked in late 2025, driven by the delivery of vacant, speculative buildings measuring 100,000 square feet (sf) or larger. However, vacancy began to decline in Q1 2026 as several of these larger speculative life science buildings were leased or purchased and occupied by life science companies such as Novartis, Ypsomed, or traditional industrial users, subsequently removing these assets from the life sciences inventory, resulting in lower vacancy for high-bay/cGMP space and increased share of vacancy.
Overall vacancy is concentrated in availabilities of 50,000 sf or greater, while demand remains strong and availability tight for smaller size ranges.
