Canadian real estate giant Oxford Properties this week announced the purchase and long-term leaseback of Ionis Pharmaceuticals 18.4-acre life science campus and corporate headquarters.
Located in the established San Diego life science submarket of Carlsbad, the campus encompasses 250K SF of existing life science and office space. As part of the transaction, Ionis will lease the properties for a minimum of 15 years.
The transaction follows on from Oxford's entrance into the San Diego life science market in February with its $464M acquisition of a 13-building portfolio from San Diego-based BioMed Realty. The portfolio, encompassing 650K SF in Sam Diego's Sorrento Valley and Sorrento Mesa submarkets, were 98% leased at the time of the acquisition in February.
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