An unnamed pharmaceutical company will anchor Alexandria’s newly constructed building at 10075 Barnes Canyon Road.
A rendering of the building at 10075 Barnes Canyon Road, which is part of Alexandria’s SD Tech campus in Sorrento Mesa. Veteran life science real estate developer Alexandria Real Estate Equities has secured a pharmaceutical giant as its anchor tenant for a newly constructed building in Sorrento Mesa.
The Barnes Canyon project’s anchor tenant is described as a “top 20 pharmaceutical company,” and is expanding its San Diego footprint by nearly 53 percent, according to a news release issued by Alexandria. Started in 1994, Pasadena-based Alexandria operates 42.2 million square feet of lab and office space spread across the nation’s top life science clusters, including Boston, the Bay Area and Seattle. The publicly traded real estate investment trust reported $37.7 billion in total assets at the end of March.
The Barnes Canyon lease is one of the larger life science real estate deals in recent months, as overall leasing activity has noticeably cooled after feverish demand during the early stages of the pandemic. In March, Pfizer’s 230,000-square-foot lease at Torrey View marked the“The market is feeling like it’s kind of getting back on its feet in terms of tenant space, interest and consumption. Demand is coming back,” Ryan told the Union-Tribune.
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