PASADENA, Calif., July 14, 2025 — Alexandria Real Estate Equities, Inc. (NYSE: ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative Megacampus™ ecosystems in AAA life science innovation cluster locations, today announced that it has executed a 16-year lease with a longtime multinational pharmaceutical tenant for a 466,598 RSF build-to-suit research hub on the Campus Point by Alexandria Megacampus [located at10300 Campus Point Drive] in the University Town Center submarket of San Diego. This milestone — the largest life science lease in Alexandria’s 31-year history — underscores the uniquely targeted demand for Alexandria’s leading destination for life science innovation in San Diego.
“Campus Point is a crown jewel of Alexandria’s Megacampus platform, and we are honored that one of our long-standing, 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. “Our brand is built on trust — and that is reflected in our commitment to collaboration, consistency and reliability. Every detail of this generational campus has been intentionally crafted to enhance innovation, foster meaningful connection among a growing community of 3,000 professionals and empower them to create life-changing medicines to improve human health and quality of life.”
Alexandria pioneered life science real estate with its founding and first acquisition in San Diego in 1994. Since acquiring its first Campus Point property in 2010, the company has been methodically aggregating, designing, entitling, developing and transforming assets to create an irreplicable Megacampus ecosystem with a strong and diverse tenant base, driving high-quality long-term cash flows. As of June 30, 2025, Campus Point consists of 1.3 million RSF in operation and is 98.8% occupied. With approximately 1.3 million RSF of additional future development and redevelopment opportunities, this Megacampus has the potential to encompass approximately 2.6 million RSF, representing an increase of 420% in its scale from initial acquisition. The campus is positioned to provide tenants with critical expansion space and an elevated amenity experience that enables the recruitment and retention of mission-critical talent to advance next-generation discoveries.
Campus Point provides an exceptional suite of existing wellness, event and food offerings, as well as continued activation through the addition of an array of talent-driven amenities. Among them are a versatile event and conference center, a members-only wellness center, a signature farm-to-table restaurant, a communal bodega and convenience retail. To further promote health and well-being, the campus will also feature recreational fields and pickleball courts, expansive green space, walking trails and a new organic garden. Campus Point’s compelling location in the University Town Center submarket offers convenient access to the I-5 and I-805 freeways and the UCSD Health La Jolla trolley stop.
Construction of this development project, 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. This ultra-efficient, high-performance laboratory facility prioritizes energy efficiency and water use reduction, as well as occupant health and wellness. Its distinctive design embraces natural light, optimizes shared space to promote connectivity and features an expansive terrace that serves as a central gathering place, seamlessly blending indoor and outdoor spaces.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. With our founding in 1994, Alexandria pioneered the life science real estate niche. Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative Megacampus™ ecosystems in AAA life science innovation cluster locations, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City. As of June 30, 2025, Alexandria has a total market capitalization of $25.7 billion and an asset base in North America that includes 39.7 million RSF of operating properties and 4.4 million RSF of Class A/A+ properties undergoing construction and one committed near-term project expected to commence construction in the next year. Alexandria has a longstanding and proven track record of developing Class A/A+ properties clustered in highly dynamic and collaborative Megacampus environments that enhance our tenants’ ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information on Alexandria, please visit www.are.com.
SOURCE Alexandria Real Estate Equities, Inc.
