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Vacancies for San Diego life science office space remain near record highs
- San Diego’s lab vacancy remains near all-time highs, with 31% of space empty in the first quarter.
- Rental rates fell for the 15th consecutive quarter to $5.55 per square foot as leasing activity declined.
- Big biotech users are moving into new Class A spaces in premier locations like Torrey Pines and Sorrento Mesa.
- Torrey Heights and the Alexandria Real Estate Tech Center reported full occupancy in the first quarter.
- International firms, including China’s Biocytogen and Bora Biologics from Taiwan, expanded their presence in San Diego.
- Total leasing activity dropped sharply to 223,000 sq ft, well below the 2025 quarterly average.
- Downtown vacancies and new-builds contributed to the overall bleak lab-space landscape.
- Analysts described the shift toward bigger users as a sign of sector recovery and growth planning.
- New office openings and expansions signal ongoing international interest in San Diego life sciences.
- Despite vacancies, some submarkets remain active with high occupancy levels in certain campuses.
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