San Diego, CA — Alexandria Real Estate Equities, Inc. (NYSE: ARE), the leading developer and operator of life science real estate in the United States, has announced the largest lease in its 31-year history: a 16-year agreement with a longtime multinational pharmaceutical tenant for a 466,598 rentable square foot (RSF) build-to-suit research and development hub at its Campus Point Megacampus™ in San Diego’s University Town Center submarket.
The milestone deal underscores continued strong demand for Alexandria’s collaborative, innovation-focused campuses, particularly in San Diego’s life science ecosystem, where the company has been deeply rooted since its founding in 1994.
“Campus Point is a crown jewel of Alexandria’s Megacampus platform,” said Daniel J. Ryan, co-president and San Diego regional market director at Alexandria. “We are honored that one of our long-standing, highly innovative tenants has selected it as the site for a new R&D hub.”
A Next-Generation R&D Hub for a Growing Industry
Slated to break ground in 2026 and deliver in 2028, the new facility will prioritize sustainability, health, and collaboration. Designed to be 100% electric, the building will pursue LEED Gold Core & Shell and Fitwel certifications, emphasizing energy efficiency, reduced water usage, and wellness-focused design.
The high-performance laboratory space will feature:
- Abundant natural light
- Optimized shared workspaces to foster connection
- An expansive terrace blending indoor and outdoor gathering areas
Campus Point: A Model Megacampus for Life Science Innovation
With this lease, Campus Point further solidifies its status as one of the most in-demand research destinations in Greater San Diego. The campus currently spans 1.3 million RSF and is 98.8% occupied. Alexandria has an additional 1.3 million RSF of development and redevelopment potential at the site, positioning Campus Point to more than double in scale to approximately 2.6 million RSF—a 420% increase since the firm’s initial acquisition in 2010.
Designed as a generational workplace, Campus Point includes a wide array of amenities and wellness-focused features, including:
- A members-only wellness center
- A farm-to-table restaurant and communal bodega
- Versatile event and conference space
- Recreational fields, pickleball courts, walking trails, and an organic garden.
The Megacampus also benefits from its prime location near the I-5 and I-805 corridors and direct access to the UCSD Health La Jolla trolley stop, ensuring ease of commute and connectivity for more than 3,000 professionals working on-site.
Strategic Growth in a Premier Cluster
This historic lease highlights Alexandria’s successful strategy of building and maintaining premier innovation campuses in AAA life science clusters such as San Diego, Boston, and the San Francisco Bay Area. By aggregating top-tier real estate assets and providing high-quality, community-oriented environments, the company continues to attract and retain leading global life science companies.
“Our brand is built on trust,” Ryan added. “Every detail of Campus Point has been intentionally crafted to enhance innovation and empower our tenant community to create life-changing medicines that improve human health and quality of life.”
With this latest deal, Alexandria strengthens its leadership in the sector and signals continued investor and tenant confidence in the future of life sciences in San Diego and beyond.
