The U.S. life sciences real estate sector is experiencing turbulence in 2025, but a notable uptick in pharma companies announcing U.S. investments could lead to a boom in domestic biomanufacturing, according to a recent report by JLL.
The latest U.S. Life Sciences Property Report highlighted 15 major pharmaceutical companies that have announced more than $270 billion in U.S. biomanufacturing and R&D investments planned over the next five to ten years, driven by the threat of additional pharmaceutical tariffs and other cost pressures.
“Life sciences companies are taking a guarded approach to real estate decisions due to uncertainties in the economy, policies and the funding environment,” said Travis McCready, Head of Industries, Leasing Advisory and Chair, Global Life Sciences Advisory Board at JLL.
Several key trends include declining leasing activity in Q1, downward pressures on rents, shrinking inventory, smaller deals driving market activity and tenants preferring the highest-quality buildings.
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