After decades of consolidation by Big Pharma, demand for modern lab and diagnostic space in New Jersey is on the rise, fueling rent growth and pushing some developers to consider new laboratory projects.
Several of New Jersey’s largest, most prominent life sciences complexes are now on the path toward redevelopment, with new anchor tenants in place or new owners that can reclaim the value of what was left behind.
In the most high-profile cases, a team at JLL has been right in the thick of it.
The U.S. economy is nearing the end of its current expansion cycle, but there are still reasons for optimism about the commercial real estate market in New Jersey and nationally.
