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California  + San Diego  | 

Life Sciences Leasing Activity Up 60%

JLL’s recently released Q2 2017 San Diego Life Sciences Report revealed after a slow start to the year, the market experienced a healthy rebound in leasing activity. The three-month period recorded 24 completed transactions that accounted for 644,212 square feet of total gross leasing activity and produced 205,529 square feet of positive net occupancy growth.

Where leasing activity was most active during the quarter was among San Diego’s smaller biotech companies. There were a total of 16 deals completed with companies that had space needs under 17,000 square feet in size, which accounted for 67% of Q2 leasing activity.

Additional Q2 highlights:

  • Looking forward, it’s expected that leasing activity among smaller companies will continue to be the most dynamic. There are currently more than 15 companies with space needs under 17,000 square feet that are actively engaging the market.
  • Q2 leasing sent total availability rate to 9.9%, pushing it below the 10% mark for the first time since Q4 2014.
  • Leasing activity is up 35% from Q1 2017, and 60% from Q2 2016.
  • Inventory of life sciences buildings will likely grow during H2 2017, as local developers are currently evaluating options to reposition industrial and office buildings into lab space.

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    About Dennis Kaiser

    Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

    • ◦Development
    • ◦Lease
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