San Diego Snapshot – February 19, 2018

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Sales activity for the San Diego biotechnology cluster has totaled nearly $1.5 billion since 2010

Source: JLL Research, Esri
  • The primary hub for most of San Diego’s biotech companies is located in the submarkets of Torrey Pines, UTC, Sorrento Mesa, and Sorrento Valley.
  • There are three major landlords/developers owning the lion’s share for life science/biotechnology real estate: Alexandria Real Estate, Biomed Realty, and HCP, owning a combined total of nine million square feet.
  • Since 2010, the San Diego central biotech cluster has had 25 transactions totaling a sales volume of about $1.4 billion (4.4 million square feet). Over the same time period, Alexandria Real Estate has purchased about 37 percent of the total volume share with eight lab/office transactions totaling over 1.2 million square feet.
  • The second largest transaction for Alexandria was the purchase of Fenton Technology Park from Quidel Cardiovascular Inc. on a sale-leaseback acquisition for $149 million at $601 per square foot in January 2018.

Patrick Ashton
Senior Research Analyst
858 410 6346
patrick.ashton@am.jll.com

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