Market Highlights

• Overall vacancy stands at 7.2%, representing a 110-basis point (bp) increase year over year. Direct vacancy remains at 6.5%, unchanged from last quarter and among the highest levels recorded in the market.
• Following nearly three years of construction, Gattuso Development Partners completed 3201 Cuthbert Street, delivering 582,000 square feet (sf) of laboratory and research space in University City.
• Venture capital funding surged to its strongest year since 2021, with more than $1.5 billion raised, representing a 48.0% year-over-year increase. Early 2025 drove most of the year’s funding momentum.

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