Alexandria pays $98m for National University HQ in San Diego

National University System, a veteran-founded nonprofit university with more than 45,000 students across 28 campuses around the world, has sold an 11.4-acre site near San Diego, The Pointe at Torrey Pines, for an undisclosed price.

However, the sales price is estimated to be $97.5 million and the buyer is reported to be Alexandria Real Estate Equities.

Located at 11255 and 11355 N. Torrey Pines Road in La Jolla, Calif., the site is currently home to the National University System and National University’s two-building headquarters. The existing property features two office buildings totaling 139,135 square feet with unobstructed, panoramic views of the Pacific Ocean and Torrey Pines Reserve.

The property is located in Torrey Pines, San Diego’s top biotech and life sciences submarket. The asset is across the street from the Torrey Pines Golf Course and is less than four miles from UTC and within two miles from research institutes such as Scripps Research, San