New Jersey Life Sciences Spotlight

Jason Price

Jason Price

Director, New Jersey Research

Phone +1 201 508-5208

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Key Takeaways:

  • Life Sciences employment has declined from 2015 through 2017, largely due to mergers & acquisitions and consolidations
  • The number of establishments increased by 4.6% from 2012 to 2017, with 3,190 life science companies in the Garden State
  • Available lab/R&D space climbed each year since 2017, with much of the vacant space concentrated in the Central New Jersey submarkets
  • Office demand by life sciences companies remains strong as 13 leases greater than 50,000 sf were signed since the start of 2018
  • Despite recent improvements in occupancy, the New Jersey Class A office market offers numerous space options of all sizes for life sciences companies