San Diego Lab Space Market Reports Q4 2023

Market Highlights

Alexandria Real Estate and Eli Lilly join forces to bring their co-working lab, gateway labs, to San Diego with plans to launch the 62,000 SF facility in the first half of 2024.

ACON Laboratories secures 510(k) clearance for a rapid COVID-19 test that can be sold over the counter and subleases almost 100,000 SF of space from Thermo Fisher to close in 2023.

Drug discovery and biotechnology firms got almost half of the venture capital funding for San Diego life sciences in the last quarter of 2023.

Major Developments Under Construction

Pacific Center

  • SF: 528,000
  • Delivery: Q1 2024
  • Will be developed over four phases
  • Developer: Harrison Street

Aperture Delmar

  • SF: 500,000
  • Purpose-built for Neurocrine Biosciences
  • Delivery: Q4 2024
  • Developer: Breakthrough Properties


  • SF: 405,000
  • The campus will total nearly 1.7 million square feet (msf)
  • Delivery: Spring 2024
  • Developer: IQHQ


  • SF: 323,403
  • One of the first ground-up lab projects in Sorrento Mesa
  • Delivery: Q1 2024
  • Developer: Longfellow Real Estate

Life Sciences Related VS Funding


CompaniesDeal SizeDeal Type
Rakuten Medical$182.1MLater Stage VC
Iambic$103.2MSeries B
Lassen Therapeutics$85.0MSeries B
MBrace Therapeutics$85.0MSeries B
Adcentrx Therapeutics$51.0MSeries A