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Life Science Trend That’s Here to Stay: Lab CoworkingTECHNOLOGY
by Hannah Freeman, June 22, 2021
Coworking laboratory spaces are one of the fastest-growing sectors in the real estate economy. Shared lab coworking spaces grew in the U.S from 12 million square feet to more than 51 million square feet, in just two years.
The coworking concept has gone through an expansion as the latest trend in life science, and it’s here to stay for the biotech industry. The Bay Area is one of the first areas in the world to encourage and spark this trend.
Lab Coworking Sprouting in SF
The Bay Area already has a reputation as a center for innovation, education, and research. Many life science companies have sprouted here, creating the Bay Area as one of the most widely known life science clusters in the world.
The open lab coworking concept is proving to be a good fit for the world of life sciences research. Rising real estate costs compounded by a dearth of available lab space has spurred the rise of coworking and shared lab spaces across the country in an industry where a collaborative environment is proving to be a key to success.
Life Sciences Go Head-to-head With Technology For Real Estate
Life sciences companies usually start with a small amount of lab space as they achieve proof of concept before they acquire their own expensive equipment, customized lab space, and investors that can support their work.
A coworking model applied to a laboratory setting provides additional workspace, amenities, collaboration, and idea-sharing that a growing company needs but may not be able to afford their own dedicated lab and office just yet.
Developments in the life sciences industry have increased the number of leases for many lab spaces and complementary projects, so potential life sciences tenants are often competing with tech firms that have no other space options but to take pricier lab spaces so they could remain close to the desired talent flow.
As a result, lab coworking projects have become wildly popular and specially designed with larger floors and higher ceilings to handle potential lab tenants and their utility requirements.
Open Lab Coworking Delivers More Than Just Space
Open lab coworking concept doesn’t just provide a space to scientists, but members also get an office and lab space, access to all the equipment: washing and autoclaving, incubators, assistance, lab operational services such as lab coat laundering, and biohazardous waste pick up, etc.
As a form of a plus service, lab coworking is there to deliver easy access to a passionate community of like-minded scientists and researchers.
Lab Coworking Trend is Here to Meet Your Needs
If you are looking for a coworking space designed for a specific sector, a good first step would be checking out the lab coworking space we have designed at Focus, in the heart of San Francisco.
Focus Innovation Studio, which was launched at 181 2nd Street of the South of Market District, is a 6,000+ square feet coworking space specifically created for tech-savvy entrepreneurs, developers, and world-class artists working on many diverse start-ups.
Our success is due to the community that we built first and the weekly business training that we offer all local businesses. Having different workspaces for different types of businesses combines all our skills and expertise.
Open lab co-working space such as the one being pioneered by Focus is likely to appeal to a far wider range of start-up experiments looking to minimize overhead prices, at a critical point in their early-stage development.
We are here to help all companies work like larger ventures, for a fraction of the cost that conventional workspaces need.