Transactions - DECEMBER 15, 2021

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Harrison Street and Sterling Bay West acquire five life sciences properties in San Diego

by Released

Harrison Street and Sterling Bay West, the West Coast division of Sterling Bay, have acquired five life sciences properties and a 13-acre development site located at 10390 Pacific Center Court and 9985 Pacific Heights Boulevard, respectively, in San Diego’s highly attractive and growing life sciences and biotechnology submarket, Sorrento Mesa.

As part of the transaction, Harrison Street and Sterling Bay have the opportunity to develop a six-story building totaling 355,000 square feet with a rooftop terrace and 8,000 square feet of amenity spaces adjacent to the existing portfolio and have plans to develop three six-story purpose-built life sciences buildings over three phases totaling 700,000 square feet on the 13-acre Pacific Heights Boulevard site. The existing state-of-the-art buildings in the portfolio are class A tenant buildouts specific to life sciences operations and are leased to Tanvex BioPharama, Wacker and Qualcomm.

Mark Burkemper, senior managing directo

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