Philadelphia Q2 2026 Life Sciences Market Report

Market Highlights

• Overall vacancy increased by 260 basis points year over year to 7.3% from 4.7%. However, Philadelphia continues to post one of the lowest vacancy rates among the nation's leading life sciences markets.
• Construction began on TerraPower Isotopes' 250,000-square-foot manufacturing facility at The Bellwether District, establishing the first life sciences tenant at the former Philadelphia Energy Solutions refinery redevelopment.
• The Pew Charitable Trusts awarded $2.5 million to two Philadelphia organizations, including a $1.5 million grant to expand life sciences and healthcare workforce development across Southeastern Pennsylvania.

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