SAN DIEGO—Activity in San Diego's life-sciences sector started to pick up in 2011 and has been exceptionally strong during the past 30 months, but JLL SVP Grant Schoneman tells GlobeSt.com he wouldn't characterize the spurt of deals here as sudden.
According to the company's Q3 life-sciences report for San Diego, the fourth quarter looks like it will be active as well, with three completed leases already, totaling more than 131,000 square feet. Also, there are 14 companies in lease negotiations, totaling more than 470,000 square feet. Behind those deals are another 14 companies negotiating proposals on space, representing an additional 760,000 square feet.
Development and redevelopment of laboratory space is at an all-time high, the report also shows, since the San Diego cluster has seen its inventory grow by 10% over the past two years, adding more than 1.3 million square feet of new lab space. Further growth is on the horizon as more than 375,000 square feet of new ground-up development is currently under construction.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
