Lab spaces were the hottest commercial real estate bet. Now, landlords are facing headwinds from DC and Silicon Valley.

Developer IQHQ made one of the hot real estate bets of the pandemic era when it acquired the triangular-shaped office building in Redwood City, California, for $164 million in late 2021. The San Diego-based landlord planned to raze the property at 10 Twin Dolphin Drive and erect a trio of lab buildings on the 15-acre site catering to the life sciences sector. At the time, the industry was booming as it played a leading role in combating COVID.IQHQ has put the property up for sale this month, the firm confi ...