San Diego Illumina keeps outgrowing its digs, which becomes evident looking at the UTC landscape.
The San Diego company, which makes machines decoding DNA, has been a major force in the growth of life sciences in UTC. From 2015 to 2017, the submarket has added 1.47 million square feet of life sciences space, significantly outpacing three other submarkets.
In 2017, the company occupied BioMed Realty’s i3 campus at UTC, a 316,000 square-foot development, serving as an addition to Illumina’s nearby headquarters.
The same year saw Illumina’s 295,000-square-foot manufacturing building come online in UTC, housing research and development, genetic health and reproductive health operations.
Illumina has stated that the building will fuel new products, key to staying atop the genetic sequencing market. The company focuses on areas like health care, research, agriculture and criminal justice.
$47.9B Market Cap
Illumina has a $47.9 billion market cap, the largest life sciences company in San Diego. It has more than 3,000 employees locally, with 7,000 globally. It sells not only machines, but software and services for data analysis that provides insight into health.
On July 30 the company reported second quarter revenue of $830 million, a 25 percent year-over-year increase, continuing a streak of beating analyst expectations.
Such growth triggered the company swallowing up space, including i3, which is less than a mile from its headquarters at 5200 Illumina Way.
Torrey Pines Shortcomings
UTC is viewed as the place to be for life science companies in need of larger offices. Besides size, Torrey Pines, long the focal point of local life sciences, lacks an availability of buildings that reflect the latest architectural trends, according to real estate experts.
Made up of three buildings, i3 was designed to be open, from the floor plans to the meeting spaces. Propelling employee engagement — all the rage these days — there’s an outdoor courtyard, performance stage, herb garden, fitness area and bocce ball court.
Inside, the open design fits Illumina’s “work anywhere” culture, encouraging employees to post up at various spots.
Each employee has their own laptop, so they can plug in wherever they desire to work, though the company will provide a work station and assigned desk if requested.