(2).jpg "Image treatment")
Life sciences sector keeps Raleigh Durham market active despite pandemic conditions
Third-quarter leasing volume fell to 549,292 square feet (sf), a 38.4% dip from the previous quarter that had several significant leases (Grail Inc. and Biogen as examples). Although the Raleigh Durham market has a diverse tenant base, the life sciences industry has largely driven leasing activity throughout the pandemic. Historically, the Research Triangle Park (RTP) submarket has been home to major pharmaceutical and biotechnology companies that are thriving during a pandemic-driven economy. The largest lease of the quarter was in the Research Triangle Park submarket (RTP / RDU); Q2 Solutions, a subsidiary of IQVIA, leased 322,384 sf.