February 14, 2017 Comments Off on Life Sciences Sector Takes a Breath? Views: 423 California News, San Diego

Life Sciences Sector Takes a Breath?

San Diego’s hot life sciences sector slowed down in Q4 2016, though for the year the segment recorded a 16% increase in square feet leased over the five-year annual average. According to research by JLL, the number of completed leases in 2016 increased 11% over the five-year average.

Other key findings include:

  • Cluster accounted for 1.5 million square feet of total gross leasing activity among 65 completed transactions in 2016
  • By comparison, 70 million square feet was leased in 2015, spread among 62 completed leases.
  • Total availability rate ended Q4 2016 at 10.9%, representing a 70 basis point decrease from previous quarter and a 30 basis point decrease from same period in 2015
  • Torrey Pines continues to lead all submarkets, with lowest availability rate at just 5.9%
  • During the past two years, UTC/Campus Point submarket’s inventory base experienced more growth than all of other life science submarkets combined

Connect With JLL Research

Subscribe to Connect Daily California

For comments, questions or concerns, please contact Dennis Kaiser


Comments are closed.