SAN DIEGO—Being recognized by Nat Geo as a 'World's Smart City' will help San Diego, but thefundamentals already in place are the real drivers behind thetech and life-sciences industrieshere, Voit Real Estate Services' VP of market researchJerry Holdner tells GlobeSt.com. After the firm'sresearch department released its mid-quarter office and industrialreports for San Diego, we spoke exclusively with Holdner aboutlife-sciences development, officeleasing and industrial growth in themarket.

GlobeSt.com: With San Diego being recognized as a“World's Smart City” by National Geographic Channel, do you expecttech and life-sciences development to increase in the nearfuture?

Holdner: The life-sciences sector inSan Diego is as strong as it has ever been, though venture-capital investment has waned just alittle bit. The life-sciences developersBioMed Realty, Alexandria and HCPhave all been active in the market during this period of expansion.Being recognized by National Geographic as a “World's SmartCity” will only help the region, but the fundamentals that arealready in place, such as the area's educated workforce anddesirable location, are the real drivers behind this industrylocally. In the long term, San Diego has traditionally beenan innovative area that has acted as an incubator for theindustry. But most often, these locally grown firms are purchasedby out-of-market investors and either wholly or partiallyrelocated. Because of this, the life-science sector locally can bevolatile at times and that is always a consideration.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.