Dean Poillucci, Head of Life Sciences, Americas at Unispace, spoke with Bisnow about his predictions for the life sciences real estate market and space planning in 2023.
Life sciences analysts are expecting a more cautious approach to investment this year due to ongoing economic challenges. However, they’re still predicting long-term investment in this important asset class.
The cautious funding market combined with development pipelines that are planning to deliver new products to major markets could create more of a buyer’s, or renter’s, market in 2023. Dean predicts that this will lead to inventory overtaking demand, resulting in cheaper commercial space rent for startups that typically succeed in this type of environment.
Industry analysts are also examining which markets will emerge as the new hubs for biotech innovation, and Dean cites Chicago and Philadelphia as the cities to watch. Dean also mentions Boston and notes that he’s seen an increase in speculative facilities designed for “good manufacturing practices” compliance in this market. This increase aligns with another of Dean’s predictions that small biomanufacturing sites allowing smaller companies more control over their work will go up in demand this year.
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About Dean Poillucci
Dean has worked within design and construction in the biopharma industry for over 30 years. He has successfully led teams in all phases of project development from concept through design, preconstruction, construction, commissioning, and qualification. Dean brings a proven track record in the execution of technically complex fast track projects.