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* Los Angeles * Orange County * San Diego * Inland Empire * Contact Us * My Account Search Wednesday, November 9, 2022 * Home * Advertising * Contact Us * Subscribe to The Registry Sign in Welcome! Log into your account your username your password Forgot your password? Get help Password recovery Recover your password your email A password will be e-mailed to you. The Registry SoCal Real Estate News * Los Angeles * Orange County * San Diego * Inland Empire * Contact Us * My Account 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 Facebook Twitter Linkedin Email 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 Facebook Twitter Linkedin Email The Registry RELATED ARTICLESMORE FROM AUTHOR CELEBRITY CHEF TO LEASE 6,000 SQFT SPACE IN LONGFELLOW-OWNED BIOVISTA DEVELOPMENT IN SAN DIEGO REPORT: SAN DIEGO OFFICE MARKET’S ROBUST ACTIVITY DURING SECOND QUARTER BODES WELL FOR REGION 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 NEIGHBORHOOD CALSTRS PLACES $500MM INTO NEW LIFE SCIENCE FUND WITH LONGFELLOW BMS SIGNS LEASE AT ALEXANDRIA REAL ESTATE’S 427,000 SQFT R&D FACILITY IN SAN DIEGO PARTNER CONTENT COVINA BOWL AND ZEST BY TRUMARK HOMES OPEN FOR SALE The Registry - October 17, 2022 0 LATEST ARTICLES TISHMAN SPEYER, MITSUI FUDOSAN AMERICA ESTABLISH JOINT VENTURE TO DEVELOP LOGISTICS... The Registry - November 9, 2022 0 NEW YORK, Nov. 8, 2022-- Tishman Speyer and Mitsui Fudosan America (MFA) today announced the formation of a new programmatic joint venture dedicated to... BITWISE AT STATE CENTER PAYS $21.5MM FOR 94,612 SQFT OFFICE BUILDING... November 9, 2022 LOGISTICS PROPERTY COMPANY CLOSES $1.8B INDUSTRIAL REAL ESTATE FUND, PLANS 341,000... November 9, 2022 JAMISON PROPERTIES’ 120-UNIT KOREATOWN PROJECT MOVES FORWARD November 9, 2022 THREE DEVELOPMENT SITES IN PALMDALE TOTALING 23 ACRES SELL FOR $7.25MM November 9, 2022 STOCKBRIDGE PAYS $20MM FOR FIVE ACRE INDUSTRIAL SITE IN MONTCLAIR November 9, 2022 NEW LAWS WILL ALLOW HOUSING TO BE BUILT IN CALIFORNIA’S UNDERUSED... November 9, 2022 PARTNER CONTENT COVINA BOWL AND ZEST BY TRUMARK HOMES OPEN FOR SALE The Registry - October 17, 2022 0 EDITOR PICKS NEW LAWS WILL ALLOW HOUSING TO BE BUILT IN CALIFORNIA’S UNDERUSED... November 9, 2022 UNCERTAINTY OR OPPORTUNITY? November 4, 2022 REPORT: NEARLY 1 IN 4 HR LEADERS EXPECT OVER 90% OF... November 2, 2022 POPULAR POSTS SELF-STORAGE INDUSTRY EMERGES AS STRONG CONTENDER AS PANDEMIC SHAKES UP OTHER... March 25, 2021 THE HARLAND UNVEILS 37 NEW PRIVATE RESIDENCES IN WEST HOLLYWOOD March 25, 2021 THE GROCERY STORE EXPERIENCE: HOW TO DESIGN SAFE, ADAPTABLE SHOPPING ENVIRONMENTS March 25, 2021 POPULAR CATEGORY * Industry News2235 * Finance1484 * News Releases1317 * Los Angeles1283 * Commercial897 * Residential696 * San Diego627 * AEC606 * Orange County482 ABOUT US We are the best source of real estate news for all of Southern California. Period. Contact us: letters@theregistrysocal.com © 2007 - 2022 Mighty Dot Media, Inc. All rights reserved.