1Q26 San Francisco Bay Area Life Science Market Report
The San Francisco Bay Area life science market recorded negative net absorption of 453,685 square feet in Q1 2026, with overall vacancy rising to 29.0% and total availability at 32.3%, while major transactions included Gladstone Institutes' 108,082-square-foot lease and the $600 million sale of Gateway Commons campus. Life science employment declined 7.6% from its 2023 peak to 107,610 workers in Q3 2025, venture capital funding fell to $1.7 billion across 79 deals in Q1 (down from $2.7 billion and 92 deals in Q4), and average asking rents decreased to $5.57 per square foot as the market contended with elevated vacancy and soft leasing conditions.
Published by Newmark. Global Real Estate Intelligence links to the original source and credits the publisher; all rights remain with them.
Provenance
- Publisher
- Newmark
- Obtained from
- Unknown: source not established
- Published
- Mar 31, 2026
- Last updated
- Jun 28, 2026 (1 month ago)
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