Centered in the tech hub of South Lake Union, Seattle’s life sciences real estate market has suffered from the same supply glut hurting other large lab markets across the country. And it’s likely to get worse in the short term. 
“It’s difficult to identify a lot of trends because there’s not much activity,” CBRE Executive Vice President Chris Moe said. “We have a client demand problem. And we’re oversupplied with a significant amount of space that has been delivered into a demand cycle that has been extremely restricted at this point.”
Source: Leaseless In Seattle: Lab Real Estate’s Struggles With Space