Alexandria Real Estate Equities, Inc., an urban office REIT, announced that Bristol Myers Squibb (BMS) has executed a long-term lease for the development of the global biopharmaceutical company’s newest core R&D facility, an iconic 427,000 RSF world-class building at Alexandria Point. Located in the heart of the University Town Center (UTC) submarket in San Diego, Alexandria Point is the company’s first leading-edge, highly sustainable amenity-rich mega campus.
This lease marks the second-largest life science lease in Alexandria’s history and further enhances its long-term strategic relationship with BMS. Since 1998, Alexandria has partnered with BMS to grow and expand in the most innovative life science cluster locations across the country, aggregating over 900,000 RSF across five of Alexandria’s cluster markets, San Diego, Greater Boston, the San Francisco Bay Area, New York City and Seattle.
“BMS looks forward to bringing our teams across San Diego to work together at our new innovative research hub,” said Rupert Vessey, executive vice president, Research and Early Development of Bristol Myers Squibb in a statement. “Having a single campus will accelerate collaboration amongst our company’s research teams and will foster a flexible working ecosystem to further BMS’s mission to advance medicines for patients who need them most.”
Alexandria’s strategic insight into San Diego’s key life science innovation drivers has enabled the company to establish and maintain its position at the vanguard of the region’s life science industry since 1994, when, as a newly founded startup company, it acquired its first laboratory building in Torrey Pines. Today, Alexandria’s asset base in the San Diego cluster market approximates 13 million RSF (which includes properties in operation or under construction, as well as projects under near-term, intermediate-term or future development and redevelopment as of December 31, 2021). Additionally, the vital Labspace infrastructure, risk capital and thought leadership Alexandria delivers across its cluster markets continue to enable the company to advance its position as a leader in disruptive life science innovation.
“We are thrilled to continue our important and valued strategic relationship with Bristol Myers Squibb as an anchor tenant at Alexandria Point. Our pioneering and collaborative real estate platform, unparalleled expertise, operational excellence and best-in-class design and placemaking prowess continue to empower BMS’s expansion in the nation’s most innovative markets and, ultimately, its critical work to discover, develop and deliver innovative medicines that meet very large unmet needs in human health,” said Daniel J. Ryan, co-chief investment officer and executive vice president – regional market director for the San Diego region. “The new facility’s iconic architecture is strategically designed to drive innovation and inspire collaboration. Designed to illuminate as a beacon of science, the building’s dramatic five-story interior atrium creatively illustrates the groundbreaking discoveries taking place within the building while providing open space and natural light to a beautifully connected space that is purpose-built to help enable BMS in its recruitment and retention of top talent.”
Upon completion, Alexandria Point will provide over 2 million square feet of mission-critical laboratory and office space, as well as over 100,000 square feet of amenities. In addition to the campus’s existing suite of amenities, which include an organic eatery, a wellness and fitness center, state-of-the-art conference space, expansive green space and an on-site garden, Alexandria plans to expand the mega campus’s amenity offerings to include a large event lawn and an expanded conferencing center to accommodate a range of tenant needs from intimate group meetings to large 800-person events. A full-court gymnasium, additional dining options and a rooftop deck with views of the surrounding mountains and Torrey Pines will also be added to the campus.
Within the campus and in the surrounding community, Alexandria Point is at the forefront of sustainability initiatives. In targeting LEED Gold certification for BMS’s new development, Alexandria continues to undertake strategic measures to increase energy efficiencies, mitigate carbon emissions, improve redundancy of systems and remove demanding operational requirements from its tenants through a state-of-the-art central plant to be operated by Alexandria. Alexandria is also working with the regional government to improve traffic flow and implement sustainable transportation options through the Alexandria Mobility Initiative for Greater UTC, which includes plans for an autonomous shuttle service to the recently completed San Diego Trolley line and regional COASTER rail line.