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Home Paid Post Developing the Next Space for San Diego’s Soaring Life Science
Industry
 * Paid Post


DEVELOPING THE NEXT SPACE FOR SAN DIEGO’S SOARING LIFE SCIENCE INDUSTRY

October 18, 2022
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The impact of life sciences on the San Diego metro region cannot be overstated
as it currently ranks as the third largest hub in the country. Biotech companies
are leasing millions of square feet across the city, as companies like Thermo
Fisher Scientific, Bristol Myers Squibb, and Artiva Biotherapeutics anchor an
incredibly strong ecosystem that is creating cutting-edge medical technology and
life-saving cures for diseases.

While San Diego has long been an established life science hub – offering leaders
in the sector a robust ecosystem and proximity to San Diego’s finest
universities and research institutes, including UC San Diego, Salk Institute,
and the Scripps Research Institute – the pandemic fueled an unprecedented level
of activity in the industry. 



Since 2020, the number of people working in the life science sector has
increased dramatically, up to nearly 70,000 in the San Diego community, and the
industry is generating nearly $28 billion in gross regional product. That
growing workforce combined with the demand for research facilities has led to
record low vacancy rates across the city.

The demand for life science facilities is highest in the city’s top innovation
clusters. Torrey Pines has a vacancy rate of 1.1 percent, the lowest in San
Diego’s top four markets while other emerging submarkets aren’t far behind.
Sorrento Mesa has a vacancy rate of 5.7 percent; Sorrento Valley and UTC are
each at just 2.6 percent. These metrics indicate serious demand for life science
space, and a real need for world-class, thoughtful developments that increase
the available supply and enable continued growth.

Longfellow Real Estate Partners, the largest privately held investor and
developer of life science buildings in the world, has had the privilege to
support the rapid growth of San Diego’s life science ecosystem. Over the last
several years, Longfellow has increased our portfolio to over four million
square feet in San Diego alone, to fully support the growth of the city’s
ongoing innovation economy.

“San Diego continues to develop and draw the world’s top talent in life science
and biotech innovation, much of that growth has been in our submarkets of
Sorrento Mesa and Sorrento Valley where Longfellow has a deep commitment to
building a world-class innovation ecosystem,” said San Diego City Councilmember
Chris Cate. “I look forward to Longfellow’s continued investment in the region
as we work together to create the 21st-century infrastructure our city and
economy demands.”

For us, the process of building the infrastructure to meet the demand in San
Diego began with transformative conversion projects. Longfellow’s first
acquisition, the SOVA Science District in the Sorrento Valley, was previously a
1980s-style office park. Our team reimagined and converted the site to offer
companies top-quality lab space, and an award-winning campus with rich amenities
including an outdoor beer garden provided by local vendor New English Brewing.

SOVA’s campus is also a hub for community organizations. Our campus plays host
to numerous activities from outstanding groups such as the San Diego Regional
Chamber of Commerce, California Life Sciences, and the Urban Land Institute San
Diego-Tijuana. As we welcome these groups onto our campus, it drives to one of
the main missions of Longfellow as we continue to build collaborative
relationships with others and provide the space for innovation to grow.

“At the Chamber, we love to see businesses that are excited about being a vital
part of San Diego and commit to growing and strengthening our communities for
the long haul, and that’s exactly what Longfellow is doing,” said Jerry Sanders,
Former San Diego Mayor, and CEO of the San Diego Regional Chamber of Commerce.
“With the development of these state-of-the-art life science research centers,
we are continuing to develop the 21st-century infrastructure our economy demands
and ensuring that San Diego continues to be a leader in life science and biotech
innovation.”

Conversion projects like the SOVA Science District represent one important
method for bringing online the space the San Diego market needs. However,
conversions can come with limitations. On the other hand, ground-up projects
enable the creation of a purpose-built facility that is flexible to companies’
needs and that better addresses Longfellow’s sustainability goals and
California’s environmental standards. 

We are excited for this next step in strengthening San Diego’s life science
ecosystem. Earlier this summer, Longfellow celebrated the groundbreaking of
Bioterra, a six-story campus in the heart of Sorrento Mesa with a beautiful
rooftop space and a curated selection of food and beverage options open to the
public. Bioterra will also have the distinction of being the first life science
building in San Diego designed with an all-electric cooling and heating system. 

Investing and developing in the communities where we live, work, and play is at
the heart of Longfellow’s long-term investments in San Diego’s life science
ecosystem. As the demand for thoughtful, sustainable space grows within the
local life science industry, our team will continue to meet that demand,
providing the framework for some of the world’s most powerful innovations that
advance the human condition.

~ Longfellow Real Estate Partners is the largest privately held investor and
developer of life science buildings in the world. With over 200 employees and a
portfolio that spans over 16 million square feet across offices and projects in
San Diego, Boston-Cambridge, Maryland-Washington D.C., New York City,
Philadelphia, San Francisco Bay Area, Research Triangle of North Carolina and
the United Kingdom, Longfellow partners with renowned universities and
pioneering life sciences and technology companies to help bring visionary ideas
to life. Driven by a passion to support those working to advance the human
condition, Longfellow continues to grow and expand in the name of scientific
progress.

BioMed Purchases 67,832 SQFT Life Sciences Campus in Sorrento Mesa for $46.7MM

Report: San Diego Office Market’s Robust Activity During Second Quarter Bodes
Well for Region

Oxford Properties Acquires 13-Building Life Sciences Portfolio in San Diego for
$464MM


 * TAGS
 * Artiva Biotherapeutics
 * Bioterra
 * Bristol Myers Squibb
 * Longfellow
 * Salk Institute
 * San Diego
 * Scripps Research Institute
 * Sorrento Mesa
 * Sorrento Valley
 * Thermo Fisher Scientific
 * UC San Diego
 * UTC

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LONGFELLOW BREAKS GROUND ON 323,000 SQFT BIOTERRA DEVELOPMENT IN SAN DIEGO


BIOLABS TO OPEN NEW LAB SPACE AT BIOVISTA IN SAN DIEGO’S SORRENTO MESA
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