Thomas Ragno Of King Street Properties Acquires Life Sciences Campus In San Diego For $120M

The life sciences campus located at 4755, 4757 Nexus Center Drive & 4796 Executive Drive in San Diego has been sold for $120,000,000. The property encompasses a total area of 241,963 square feet, resulting in a price per square foot of $496. This transaction marks a significant movement in the San Diego market.

Summary of transaction details:

• Property Type: Life Sciences
• Transaction Amount: $120,000,000
• Buyer: Thomas Ragno - King Street Properties
• Seller: Peter M. Moglia - Alexandria Real Estate Equities Inc
• Brokers: Brad Tecca, Brunson Howard & Rick Reeder - Newmark
• Address: 4755, 4757 Nexus Center Drive & 4796 Executive Drive
• Market: San Diego
• Square Footage: 241,963
• Price Per Square Foot: $496

The transaction was facilitated by Newmark, where brokers Brad Tecca, Brunson Howard, and Rick Reeder played a pivotal role. Alexandria Real Estate Equities provided $166 million in seller financing to support the deal. A fourth building on the property is scheduled for completion within the year.