Tuesday, September 02, 2008

Building boom meets maturing biotechs’ needs

Looking for biotech work?...go west, young man/ lady...

Even with some 1 million square feet of biotech office or R&D space on the Peninsula’s leasing market today, developers plan on bringing another 2.3 million square feet to the market over the next year or two.

The reason, say developers, brokers and biotech leaders, is simple: There’s still a need for space to match a maturing Bay Area biotech community. Still, developers are moving cautiously, building mostly to suit tenants and not getting too far in front of an industry known for stunning successes and equally brilliant burnouts.

“There’s always opportunity out there,” said Jennifer Von der Ahe, a project manager for Chamberlain Associates, which is developing more than 185,000 square feet in South San Francisco for neurological drugs maker Elan Corp.

“Biotech is not going away.”

link to full article

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