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DivcoWest has acquired a fully leased life science building in the Torrey Pines research cluster from Alexandria Real Estate Equities

DivcoWest Expands San Diego Life Science Holdings

DivcoWest, a DivCore Capital company, expanded its San Diego and life science portfolio through the acquisition of 11119 N. Torrey Pines Rd. a fully leased 72,506-rentable-square-foot Class A life science building in the Torrey Pines research cluster. The seller was an affiliate of Alexandria Real Estate Equities, which said the property traded for $86 million. 

The acquisition represents the first in Torrey Pines by a private real estate investor since 2000 and is one of only three research properties in the market not owned by a public REIT, nonprofit or owner/user. “We view this acquisition as a rare moment in time to acquire purpose-built lab in Torrey Pines below replacement costs and secured by credit tenancy,” said Gregg Walker, president of DivcoWest Real Estate Asset Management. 

The sole tenant since 2012 has been the California Institute of Biomedical Research, a division of Scripps Research. Eastdil Secured marketed the property. 


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).