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A major Triangle investment in new life sciences space may be the icing on the cake for a resurgent biotech sector in North Carolina.
Illinois-based AbbVie announced last week it would spend $1.4B for a 185-acre pharmaceutical manufacturing campus. The new space will “integrate advanced manufacturing and laboratory technologies” for the company’s immunology, neuroscience and oncology medicines, according to a press release.
The deal is AbbVie’s first big investment in North Carolina. The company said it chose the location, near Research Triangle Park, largely because of the area’s impressive local workforce as well as its “ability to support future expansion,” according to the release.
Construction is planned to begin this year, with delivery by the end of 2028. The first phase of construction will encompass “small volume parenteral (SVP) drug product manufacturing facilities, next-generation laboratories, a warehouse, administrative offices and employee wellness facilities,” according to the announcement.
The project is expected to create 734 permanent jobs, including engineers, scientists, manufacturing operators and lab technicians.
Savills Life Sciences Research Manager Brianna Friedman told Bisnow the AbbVie deal “solidifies Raleigh-Durham as one of the largest life sciences hubs in America.”
Friedman said she’s been seeing positive signs in the local life sciences market starting in 2025, including investments in new space. Aside from the AbbVie deal, she noted Novartis breaking ground in December 2025 on new manufacturing space spread across Durham and Morrisville. The announced projects span more than 700K SF.
According to a report by Savills, overall vacancy in the life sciences space in Raleigh-Durham decreased from 23.6% in Q1 2025 to 20.9% at the end of this past quarter.
The lower vacancy rate is a good indicator that the pipeline of space being delivered or under construction has been dwindling, Friedman said.
“With less square footage being delivered onto the market, there’s obviously going to be less square footage to choose from,” she said. “I think developers are waiting for vacancy to die down to start new construction projects.”
However, the local life sciences space is still a buyer’s market.
In a recent Savills report on the life sciences development pipeline, Friedman wrote that “buildings designed for rapid biotech expansion are instead sitting idle as landlords compete to secure a limited number of tenants.”
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