A small but noteworthy cohort of tenants will be leasing specialized space as the Ontario government moves toward granting licences for new independently operated surgical and diagnostic clinics.

OMERS has agreed to sell the LifeLabs network of laboratories and collection centres for providing and relaying diagnostic information to U.S.-based Quest Diagnostics for CAD $1.35 billion.

Market analysts see a vibrant niche of real estate investment potential in the Greater Toronto and Hamilton Area, where the vacancy rate for lab space is currently 0.2 per cent.

Real estate analysts point to burgeoning momentum in Canada’s strong research institutions, increasing calls for domestic production capacity and the STEM job creation engine.

Plans for a 2.5 million-square-foot expansion at McMaster Innovation Park include a life sciences 'megahub.'

A state-of-the-art centre for advanced research on the fast-emerging cell therapies industries recently opened at McMaster Innovation Park in Hamilton, Ont.