Alexandria Real Estate Equities, Inc. said Monday it has executed a 16-year lease with a longtime multinational pharmaceutical tenant for a 466,598-square-foot build-to-suit research hub on the Campus Point by Alexandria Megacampus in the University Town Center submarket of San Diego. The BTS deal represents the largest life science lease in Alexandria’s 31-year history.
“Campus Point is a crown jewel of Alexandria’s Megacampus platform, and we are honored that one of our longstanding, highly innovative tenants has selected it as the site for a new R&D hub,” said Daniel J. Ryan, co-president and San Diego regional market director.
Construction of the research hub, which is targeting 100% electrification and LEED Gold Core & Shell and Fitwel certifications, will commence in 2026 and is expected to be delivered in 2028. The Campus Point by Alexandria Megacampus has reached 1.3 million square feet in operation and is 98.8% occupied, with another 1.3 million square feet of development and redevelopment opportunities.
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