San Diego 2022 Life Sciences Report

After the Greater Boston and San Francisco Bay markets, San Diego continues to strengthen its position as North America’s third largest life sciences market cluster. The life sciences cluster is a major driver of San Diego’s innovation economy. Firms Invested Nearly $2.5 Billion in 2021. The region is home to more than 1,225 life sciences companies and more than 80 independent and university-affiliated research institutes.

The global life sciences industry has been on the rise, growing more rapidly than ever over the past decade; its trajectory only strengthened throughout 2021 and going into 2022. In the past 24 months, rental rates has seen increases ranging from 25%- 40% across submarkets with tenant improvement allowances increasing to attract occupiers and
lab build-outs. 

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