Greater Seattle’s life sciences ecosystem had a stable year in 2025, with several large leases signed, including more than 90,000 square feet in Bothell for biopharmaceutical company SystImmune.
According to a recent report by Colliers, two major projects, 701 Dexter and 1916 Boren, delivered more than 500,000 square feet to the market, with moderate preleasing. Seattle Children’s Research Institute, preleased 38%, or 124,000 square feet, of the 1916 Boren property. Other anchors include the University of Washington, the Fred Hutch Cancer Center, and the Allen Institute.
While overall nationwide investment activity in the life sciences sector is down, emerging indicators suggest that conditions for the life sciences sector are beginning to stabilize and improve. Seattle remains a hub for life sciences and technology, and supports a broad list of tenants such as Zeno Power, which plans to expand its local footprint beyond the three floors it currently occupies in an Alexandria Real Estate Equities-owned building in Lake Union.
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