Summary List Placement Real estate to house pharmaceutical, biotech, and other medical research professionals is growing at a rapid pace and rents continue to rise, a sign that tenant demand can support the increasing attention on life sciences from institutional investors and developers. Lab space has grown by 11.9% across the US to 95 million square feet over the 18 months leading up ending on June 31 with another 11 million square feet under construction, according to a CBRE report detailing growth in the largest biotech clusters. The sector has added more than 20 million square feet of space over the last 2 years.