Biotech Is Heating Up
As the biotech sector is heating up, San Mateo County showed no signs of cooling down. Life science users have been flocking to find any available space on the San Francisco Peninsula, taking any office and research and development (R&D) space that they can find. The two leading R&D transactions and many of the major office transactions included life science users. This perhaps is a sign that the trend is not stopping any time soon. Due to high demand, average asking rates are reaching critical levels with office ending at $5.08 fully serviced, industrial at $1.36 NNN, and R&D at $3.60 NNN this quarter..