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San Diego biotech market heats up demand for quality space.

Publication: San Diego Business Journal
Publication Date: 28-JUN-04 		Format: Online - approximately 1103 words
Delivery: Immediate Online Access
Full Article Title: San Diego biotech market heats up demand for quality space.(Advertising Supplement)

Article Excerpt
The life science industry in the region dates back to the 1960s when San Diego designated Torrey Pines Mesa as an area for "scientific research and development activities." Today, San Diego is one of the nation's premier biotechnology markets, trailing only the San Francisco Bay Area and Boston, and is home to more than 200 pharmaceutical and biomedical companies. The region added about 18,000 biotech/life science jobs from 1990 to 2003 with an addition of another 8,000 jobs expected between now and 2007.

Life science companies have renewed interest in expanding their facilities, and overall leasing activity is expected to continue to increase steadily during the next 18 to 24 months. A substantial amount of laboratory sublease space still remains available. However, much of this is older or poorly designed product. Growth in quality laboratory supply has been relatively restrained and new laboratory construction is non-existent. Increased demand with fewer quality space options available suggests a shift to a landlord's market by year-end 2005....

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