Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, has launched StudioLabs by Breakthrough, a flex lab and office space program for high-growth life science companies. The program will offer private lab and office suites range in size from 4,000 to 15,000, featuring dedicated offices and huddle rooms; fully-functional wet lab spaces with lab support rooms; lab utilities and starter lab equipment packages.

The first StudioLabs property is under construction in San Diego, with plans to open this summer as part of Torrey Plaza campus in San Diego, which Breakthrough is redeveloping. The 28,000-square-foot StudioLabs property has already been fully leased to Protego Biopharma, Velia, Inc. and Actio Biosciences. The space is fully customizable in terms of the services provided and the length of the lease term, which appeals to new and growing life science companies looking to quickly scale.

The concept is no doubt a response to the booming life science industry, which is expanding rapidly across the country and has led to a dearth of supply in many mature markets, like San Diego. The County is among the most sought-after life science markets, and last year, life science activity broke new records. In 2021, there were 139 life science leases completed in the San Diego market, representing a total of four million square feet, a 51% increase in transactions and an 80% increase in square footage from 2020.