Colorado's A Top Bioscience Cluster: What It Means For Real Estate
Colorado is one of the nation's top 16 major bioscience industry clusters, according to a new report by JLL, putting it in the same league as Boston, San Francisco, Raleigh-Durham and other heavyweights of the industry.
Thus Colorado real estate markets are going to share the benefits of the industry's growth. For instance, continued acquisition and consolidation in bioscience will offer small and mid-sized businesses opportunities for space in tightening clusters, and some secondary markets will do well as tenants look for affordable options outside core markets.
Southeast Denver remains the epicenter of Colorado’s bioscience community, with its hub at the Fitzsimmons Life Sciences District and the Anschutz Medical Campus, but Boulder still holds the majority of lab space. Though well-established Boulder is a popular choice, Longmont, Gunbarrel and other Denver submarkets are gaining momentum as low-cost alternatives for office, housing and other real estate that still have access to Boulder talent. In line with national trends, bioscience vacancy is rapidly decreasing in all Denver-area markets.