DivcoWest Acquires Fully Leased Life Science Building In San Diego's Torrey Pines For $86M

DivcoWest has acquired 11119 N. Torrey Pines Road, a fully leased Class A life science building in San Diego's Torrey Pines research cluster, for $86 million. The property, currently occupied by the California Institute of Biomedical Research (Calibr), marks the first private investor acquisition in Torrey Pines since 2000. This transaction represents a significant investment in the thriving life science sector in San Diego.

Summary of transation details

• Property Type: Office
• Transaction Amount: $86,000,000
• Square Footage: 72,506
• Price per Square Foot: $1,186
• Address: 11119 North Torrey Pines Road, La Jolla
• Market: La Jolla

The buyer, DivcoWest, represented by Gregg Walker, has made this acquisition from the seller, Alexandria Real Estate Equities, Inc. This marks an important milestone in the Torrey Pines area, as it brings in a private investor after a long gap. With the property already leased to the esteemed California Institute of Biomedical Research, DivcoWest can now take advantage of this prime location and established tenant to further bolster their investment portfolio.