A new report by real estate firm JLL ranks the Triangle as the second best real estate market in the U.S. for the life sciences industry, behind only Boston.
The Triangle was ranked fourth in last year’s report, but has since moved ahead of San Francisco and San Diego.
The JLL report ranked regions based on a number of factors, including the existing concentration of life sciences workers and the potential for future growth, venture capital funding, government funding and patents.
While life sciences rents in the Triangle rose 12.4 percent compared to last year, according to JLL, the region’s real estate costs remain well below other major life sciences clusters.
The price per square foot for life sciences space in the Triangle was $19, while in Boston it was $47.40 per square foot and in San Francisco it was $37.40 per square foot.
The Triangle ranked fourth in the amount of rentable square feet available, with about 10 million square feet.