San Diego is the third-ranked life sciences cluster in the United States; however, a co-work deal exceeded the city’s total venture capital investment in life sciences during the first quarter, according to CBRE.
Life science investment in San Diego totaled $76.2 million in the first quarter, the lowest level in more than four years. While CommonGround Workspaces, a Carlsbad, Calif.-based co-working company, raised $100 million in series A funding to grow its presence in the California market, surpassing the life science total investment. The city is one of America’s top 20 co-working markets, with 50 shared office locations totaling more than 965,000 square feet of space, according to a December 2018 report by Yardi Matrix.
