Clarion Partners Real Estate Income Fund (CPREIF) has strategically expanded its property portfolio with the acquisition of Fusion Life Science HQ, a 121,541-square-foot hybrid creative office and research and development (R&D) building in San Diego’s Carlsbad submarket.
“We’re excited to not only increase CPREIF’s West Coast holdings, but also to enter the San Diego life sciences market for the first time,” said Janet Souk, CPREIF portfolio manager. “The increased demand for life sciences real estate in Carlsbad continues to explode. Fusion’s unique attributes, coupled with a strong tenant, reinforced our decision to add this particular property to our portfolio.”
Constructed in 1996, the Fusion campus was renovated in 2020 and features amenities such as a landlord-owned solar panel roof system and ample parking, as well as a fitness center, electric vehicle chargers, fire pits, bocce ball and basketball courts, putting green, barbecue station, and