Biotech Expansion in uCity
University City continues to dominate the Philadelphia life sciences market. Vacancy rates for purpose-built wet labs are sub-4%, driving a wave of office-to-lab conversions that cost upwards of $200/sq ft in tenant improvements.
Worked Data & Figures
| Building | Sq Ft | Status |
|---|---|---|
| 3.0 University Place | 250,000 | Leased (2024) |
| One uCity Square | 400,000 | Delivering Q3 |
Common Mistakes in Analysis
- Relying on outdated 2019 baselines without adjusting for remote work trends.
- Ignoring hyper-local neighborhood variations.
Frequently Asked Questions
What is the source of this data?
Primary data sourced from municipal tax records, Kastle Systems, and proprietary surveys.
How often is this updated?
We update these index figures quarterly.