PGIM, Prudential Financial Inc., the $1 trillion asset-management arm needs to capitalize on commercial real estate investment opportunities nearby biotechnology markets. Here’s what Taimur Hyat, chief strategy officer had to say.

With biotechnology‘s present strong growth happening within its industry, there are chances for commercial real estate investments to attain attractive returns in markets from Boston to Munich to Shanghai, according to Taimur Hyat, chief strategy officer for PGIM. “Biotech is causing a revolutionary change in the type of real estate opportunities we are seeing,” Hyat stated in a recent TV interview to Bloomberg. Hyat also said that laboratories and offices can be “very sticky, long-term investments,” given the demand for space.

The surge in biotech over the recent years has produced record numbers of drugs which have been approved to market. Such drugs include breakthrough therapies for significant illnesses. At one point in May, the Nasdaq Biotechnology Index had reached 182 percent from the end of 2010, compared with the 64 percent gain of the S&P 500 Index.

For commercial real estate investors, alternative investments such as real estate to counter slump among hedge funds and low yields in the bond market are being sought after. According to Hyat, the aging population is also a trend which may benefit property investors. Hyat stated, “You see senior-housing opportunities for the elderly in the U.K., in Japan, and potentially in China,” he said. “We focus on the next five, 10, 15 years.”

In Jupiter, South Florida, biotechnology firm CTD Holdings is planning to bring on board 51 new employees this year. The company is said to “fit right in” the Jupiter’s growing biotechnology hub which includes companies such as the Scripps Research Institute and Max Planck Society. In Palm Beach County, the growing biotech industry is considered particularly important. Since 2003, the county has contributed $856 million in incentives and land in efforts to deliver research to two research institutes for Jupiter: Scripps and Max Planck have been under pressure by both entrepreneurs and public officials to generated jobs, capital investment, and spin-off companies.

Last year, Florida gave nearly $750 million to both Scripps and Max Planck, in hopes that the non-profit institutes would create high-paid jobs and spin-offs, however there is still challenges to transpire to date. Governor Rick Scott also announced last year that the parent of Pratt & Whitney and Sikorsky, United Technologies was developing a flagship showroom in Palm Beach Gardens and has so far been a significant boost to real estate.