CushWake Report Details Thriving SD Life Sciences Market

The San Diego life sciences market, particularly the Torrey Pines submarket, is thriving according to a recent report from Cushman & Wakefield’s National Life Science Specialty Group.

According to the report, as the market continues growing, landlords are expanding eastward towards Sorrento Mesa, converting older buildings into new lab space. Over the last four years, 37% of the 2.8 million square feet of new inventory has been a result of conversions.

Torrey Pines commands the highest rents in the life sciences sector, and the San Diego life sciences markets have experienced five straight years of positive net absorption, with all submarkets having surpassed or approaching all-time high asking rates.

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