The Denver-Boulder Life Sciences Market Report Q1 2026 from Savills shows the region’s life sciences sector continuing to normalize in early 2026, with rising vacancy and slower tenant demand reshaping market conditions.
Overall vacancy reached 27.3% in Q1 2026, an increase of 200 basis points year-over-year. The rise was driven largely by a sharp increase in direct vacancy, which climbed to 20.5% from 15.2% a year prior.
The elevated vacancy reflects a broader market reset following several years of rapid expansion during the pandemic-era biotech boom. New supply deliveries combined with more cautious leasing activity have created increased availability across both lab and R&D space.
Despite softening fundamentals, the Denver-Boulder region remains a key secondary life sciences hub, supported by its strong talent base, research institutions, and proximity to major universities. However, tenants are becoming more selective, favoring high-quality, move-in-ready lab environments over speculative or less specialized space.
Market highlights:
- VitriVax signed a 31,450-square-foot (sf) lease at Flatiron Park in Boulder to expand its headquarters following a $17.3 millon Series B funding round to support growth and scale its vaccine technology platform.
- Ambrosia Biosciences raised $100.0 million in Series B funding to support early-stage clinical testing of its GLP-1 based therapy and continue developing additional treatments.
