Alexandria Real Estate Equities Delivers 427,000 RSF Bristol Myers Squibb R&D Hub at San Diego Megacampus

Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced July 20 that it has completed and delivered a 427,000 rentable square foot (RSF) research and development hub for Bristol Myers Squibb at the Campus Point by Alexandria Megacampus in San Diego, California. The delivery marks a significant milestone for the life science real estate investment trust, which first acquired a laboratory building in San Diego's Torrey Pines area in 1994 and launched the initial phase of Campus Point in 2010.

Bristol Myers Squibb, which takes anchor tenant status at the Megacampus, has maintained a strategic partnership with Alexandria Real Estate Equities since 1998, according to the company's announcement.

Campus Point Scale and Occupancy

As of March 31, 2026, Campus Point by Alexandria spans 2.9 million RSF in total, comprising 1.3 million RSF of properties in operation, 0.9 million RSF under construction, and 0.7 million RSF available for future development and redevelopment. The campus reported 95.4% occupancy as of that date.

The broader San Diego region represents one of Alexandria Real Estate Equities' largest geographic concentrations. As of March 31, 2026, the company's San Diego holdings include 6.2 million RSF of operating assets and 0.9 million RSF of development assets.

Campus Point is situated within what Alexandria describes as the "Miracle Mile of Medicine" in San Diego, adjacent to the Salk Institute, Scripps Research, and the University of California, San Diego — a concentration of research and academic institutions that the company cites as a driver of tenant demand and talent recruitment.

Megacampus Strategy and Tenant Ecosystem

"We are grateful and proud to continue our decades-long partnership with Bristol Myers Squibb with their new R&D hub at Campus Point," said Bret Gossett, executive vice president and co-regional market director and head of leasing for the San Diego region at Alexandria Real Estate Equities. "Campus Point is home to a diverse ecosystem of innovative companies, including multinational pharma companies, leading research institutes and advanced technology companies."

Gossett added that the campus is "strategically designed to accelerate innovation" and provides tenants with flexibility to expand within the same Megacampus ecosystem, while supporting recruitment and retention of scientific talent.

When complete, Campus Point's amenity package is slated to include walking paths, a retail breezeway, a community farm and market, pickleball courts, athletic fields, fitness and wellness spaces, events and conference spaces, and food and beverage options including a café, tavern, and destination restaurant.

Alexandria Real Estate Equities: Company Profile

Alexandria Real Estate Equities is an S&P 500 life science REIT with a total market capitalization of $20.44 billion as of March 31, 2026. The company's North American asset base includes 35.8 million RSF of operating properties, concentrated in AAA life science clusters across Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle, and New York City.

In addition to its real estate operations, Alexandria Real Estate Equities operates a venture capital platform that provides strategic capital to life science companies.

Sources

Alexandria Real Estate Equities, Inc. — PR Newswire, July 20, 2026