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Article Excerpt
In response to the biotech industry's growing presence in San Diego County, brokers, contractors, and others involved in the local commercial real estate market are becoming experts in the companies' needs.
Biostruct, a locally based general contracting and facility management firm, set up shop almost eight years ago in anticipation of the office and lab needs of the biotech industry. Biostruct had a record year in 2002, with a 50 percent increase in business. Work is expected to increase this year as well.
Company founders Bruce Birch and Fred Carmody were working for a local biotech 15 years ago when they realized there was no one at the time that could provide biotech design, construction, and maintenance services all from one office, Birch said.
"There's a great deal of investment to take (a drug) from development to production," Carmody added.
Construction of lab space and maintenance of it is part of the investment.
The cost to build out space for biotech tenants is three to four times the construction cost for traditional office tenants, according to Dave Odmark, a principal at San Diego-based brokerage BRE Commercial/NAI.
"We have to work with them to figure out how to get these guys going without...
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