On Tuesday, Alexandria Real Estate Equities, Inc. announced that a leading pharmaceutical company has increased its presence in San Diego by 53%. The tenant has signed a 10-year lease for 127,382 square feet at the SD Tech by Alexandria mega campus in the Sorrento Mesa submarket.
This significant expansion brings the development’s occupancy to 70%, well ahead of its expected completion date in 2025. The new R&D center will be located at 10075 Barnes Canyon Rd and is targeting LEED Gold Core & Shell and Fitwel certifications.
Alexandria’s pipeline of under-construction mega campus projects in San Diego is now almost fully leased at an impressive rate of over 94%. Since entering the market back in June of ’94, Alexandria has played a crucial role in developing and transforming San Diego into one of the top life science clusters nationwide. As reported this past March, their operational portfolio was nearly completely occupied with an occupancy rate of over %95 percent.
