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Leasing Surge Points to Life Science Rebound in Bay Area

Leasing activity doubles, led by large deals in Peninsula submarket.

By Jack Rogers | January 31, 2025 at 06:17 AM

The 44M SF life science market in the Bay Area has ended 2024 with a huge surge in leasing activity led by large deals in the San Francisco Peninsula, which accounted for nearly 86% of the total volume of 1.9M SF across the nine-county region.

The surge in life science leasing, which more than doubled from the Bay Area’s Q3 2024 total of 704K square feet, represented an 89% increase over the 10-year, quarterly average for the region.

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