Market Highlights

• Overall vacancy stands at 17.5%, up 260 basis points (bps) from last year. Direct vacancy continues to rise as it is currently at 15.8%, up 350 bps since Q4 2024, while sublease vacancy has fallen to its lowest level since 2023.
• BioMed’s two-tower, 616,000 square foot (sf) development at 6300 7th Avenue in Denny Park South is expected to break ground in 2026 and will introduce new Class A life sciences and laboratory space to the market.
• Venture capital funding accelerated in 2025, climbing to $1.2 billion and increasing more than 100% from 2024 levels.

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