2023 September Life Sciences Update

What Makes an Emerging Market?

› A growing inventory can help propel innovation in life sciences. As more state-of-the-art labs and research facilities become available, life sciences firms and institutions have greater access to cutting-edge infrastructure that can accelerate development. › Expanding inventory in emerging markets often creates a cost advantage for life sciences companies.

A Growing Inventory

25

200%

186%

180%

Space that is proposed and under construction is indicative of a market that’s committed to growth.

20

160%

Compared to established hubs, rental and real estate operation expenses are often lower in emerging markets.

140%

15

120%

100%

MSF

78%

73%

10

80%

67%

60%

5

40%

27%

20%

27%

27%

-

0%

Costa Rica* Salt Lake City Austin

Houston

Atlanta

Dallas/Ft. Worth

Phoenix

Existing

Under Construction

Proposed

% of Existing Inventory U/C & Proposed

Source: Cushman & Wakefield Research *Inventory is manufacturing

29 / CUSHMAN & WAKEFIELD

LIFE SCIENCES SEPTEMBER 2023