Clarion Partners Real Estate Income Fund Inc. has acquired a hybrid creative office and R&D laboratory campus building in San Diego’s Carlsbad submarket, Fusion Life Science HQ, a 121,541 square foot facility.
Demand for laboratory and manufacturing space has shot up of late. CBRE reported for example that over 2021 laboratory leasing activity totaled 2.1 million square feet, or 24% more than the 2020 record annual total of 1.7 million square feet.
CPREIF Portfolio Manager, Janet Souk, said: “We’re excited to not only increase CPREIF’s West Coast . . .
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