Life science is an increasingly popular field throughout the United States, including in Los Angeles. Part of the reason for this is that pharmaceutical firms are increasingly pairing with incubator laboratories along with startup companies to drive research/development. This is great news for those who are interested in life science careers, but it is also welcome news for investors who are interested in purchasing properties featuring commercial leases.
From the years of 2014 to 2017, the number of people employed in biotech research skyrocketed 27 percent. Meanwhile, the overall growth rate for jobs during this period of four years was just 7 percent. Also, over $60 billion worth of venture capital went to biotechnology companies during this time period.
Based on real estate industry experts, the commercial property industry is currently a key part of environments focusing on collaborative life science research. In California, multiple cities are piquing the interest of bioscience professionals, including San Francisco and San Jose, for example. Bigger real estate properties are especially being sought after since they can be used to house office workers, labs and device manufacturing operations.
With life science dominating the current business landscape, it may behoove real estate investors to seek out properties featuring commercial leases that may become attractive to biotech companies in the future. Still, the process of buying commercial properties is not black and white, as many moving parts are involved. An attorney in Los Angeles can walk an investor through the buying process and make sure that his or her best interests and rights are upheld from start to finish.