As San Diego continues to exhibit tremendous growth from life science companies, big blocks of lab space are being developed to accommodate this demand. Grant Schoneman, JLL senior managing director, says this activity encompasses a wide size range of life sciences companies.
“With over $3.4 billion invested into the San Diego life sciences sector during the past six months, growth within the local region has been at record levels,” says Schoneman. “Life sciences companies of all size ranges are securing funding, which in turn is producing larger R&D teams and the need for more lab space.”
Schoneman says this growth has pushed space availability within core life sciences cluster markets (Torrey Pines, UTC, Sorrento Mesa, Sorrento Valley) into the low single digits, triggering companies to evaluate buildings outside of these core markets. Those newly evaluated markets are most notably Carmel Valley and downtown San Diego.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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