A new second-quarter report from CBRE suggests that the San Francisco Bay Area has the very best call for withinside the country the existence of technological life science lab space. The 4.4 million square feet of demand is barely greater than Boston’s 4.2 million, with Bay Area common rents now standing at $67.72 according to the square foot, nicely above the 12-market, life sciences hubs average of $54.77.

“With growing expenses of production and inflation, we are seeing improved opposition for present lab space, in addition to builders turning in heat shells as tenants pursue cost-powerful strategies,” stated CBRE Vice Chairman Dino Perazzo.

Developers are seeking to increase delivery withinside the location as new improvements and conversions in the system totaled 7.1 million square feet in Q2, most of that being pre-leased. Most of the improvement and conversion activity is in San Francisco, Oakland, and the Peninsula, while Silicon Valley is seeing a few workplaces and R&D centers earmarked for destiny life science improvement.