Alexandria Real Estate signed a 466,598 square foot, 16-year build-to-suit lease at its Campus Point campus located in the San Diego market with an undisclosed multinational pharma tenant. This transaction represents Alexandria's largest lease to date, contributing to the portfolio expansion despite a current 27.4% availability rate and a 56% drop in venture funding. The Campus Point campus is already 98.8% occupied, underscoring its significance in the life sciences sector.

Summary of transaction details:

• Property Type: Life Sciences
• Transaction Amount: Not disclosed
• Address: Campus Point
• Market: San Diego
• Asset Size: 466,598 SF
• Lease Duration: 16 years
• Landlord: Joel S. Marcus - Alexandria Real Estate Equities Inc

Joel S. Marcus, representing Alexandria Real Estate Equities Inc, played a crucial role in this transaction. With this lease, the company continues to solidify its position in the life sciences market, expanding its portfolio amid challenging market conditions.