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Nuveen Nabs UTC Life Science Campus in Diversification Shift
Nuveen Real Estate entered a joint venture with a publicly-traded REIT to invest in a two-building, 269,048-square-foot life science campus in San Diego’s UTC. The properties at 10260 Campus Pointe Dr. and 4161 Campus Point Ct. are 100% leased through 2022. Public documents show Alexandria Real Estate Equities, Inc. acquired the assets for $80 million.
Nuveen Real Estate’s Derreck Barker says, “This acquisition provides the opportunity to further diversify Nuveen Real Estate’s office portfolio and invest into a life science office campus that caters to tenants in the life science industry.”
The JV is planning a host of upgrades and new investments as part of a broader repositioning of the campus. Future developments include renovated buildings, common area amenities, and retail space. 10260 Campus Point Dr. will be redeveloped and expanded into a 176,455-square-foot Class A building, which is 100% pre-leased for 15 years with a target delivery in 2021.
*Pictured rendering of Alexandria’s nearby 9880 Campus Point Dr.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


