The San Diego life science market had a record year. The market sector recorded 34% rent growth and more than 1 million square feet of leasing activity in both the third and fourth quarter, according to the fourth quarter report from JLL. In 2021, there were 139 life science leases completed in the San Diego market, representing a total of four million square feet, a 51% increase in transactions and an 80% increase in square footage from 2020.

In the fourth quarter, life science leasing activity totaled 1.2 million square feet in 33 leases and representing nearly 75,000 square feet of absorption. It was the second consecutive quarter where leasing activity surpasses 1 million square feet. While leasing activity was down a nominal 3% quarter-over-quarter, it was up a staggering 155% year-over-year.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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