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Leasing activity high in the 4th Top U.S. Life Science Cluster

  • ​Thanks to GlaxoSmithKline’s recent lease, Raleigh-Durham is set for a record breaking year of life science leasing activity. The pharmaceutical giant, which recently sold its 1.8 million square foot campus, will occupy 700,000 square feet. California-based Karlin Real Estate bought the campus for $110 million and is in the process of renovating and amentizing the campus with the intent to create an innovation hub.
  • The region has seen a flurry of activity, which has historically been driven by smaller leases. The newly renovated Chesterfield boasts leases from Nutanix, Validic, and BioLabsNC. The Durham Innovation District project kicked off construction with a 150,000 square foot lease from Duke University Research Institute.
  • In this year’s Life Science Outlook, Raleigh-Durham ranked 4th behind metro giants Boston and San Francisco, and very nearly tied for third with San Diego. The life sciences cluster employs more than 35,000 people in Raleigh-Durham; the sector’s employment grew by 6.6 percent over the last year. This growth is not expected to slow down as companies compete for access to top tier talent.
  • View the 2017 Life Sciences Outlook here. ​

Source: JLL Research, U.S. Census Bureau​

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