Oxford Buys Carlsbad Campus in $258M Sale-Leaseback Deal

Oxford Properties Group has purchased and arranged a long-term leaseback of Ionis Pharmaceutical’s 18.4-acre life science campus and corporate headquarters in Carlsbad, CA. The three-building, 250,000-square-foot facility was traded for $258 million.

“Our purchase of the Ionis campus adds to Oxford’s significant presence in a top three global life science market that is characterized by high barriers to entry. We have a long term conviction in the San Diego life sciences market, which is supported by its strong STEM presence, a highly-skilled labor force and world-renowned research and academic institutions,” said Oxford’s Tycho Suter. The acquisition is the firm’s second in the San Diego region.

The campus buildings are one- or two-stories and feature chemistry labs, biology labs and R&D support systems as well as office space. Ionis Pharmaceuticals is a publicly traded biotech company specializing in discovering and developing RNA-targeted therapeutics, and currently has three marketed medicines.

CBRE’s Matthew Carlson, Hunter Rowe, Todd Tydlaska, Anthony Hayes and Jared Pimm represented Ionis, while CBRE’s James Millon, Zack Holderman and Roger Carlson assisted in the financing and leasing.