The new San Diego facility expands a partnership dating to 1998 as Alexandria says its Campus Point Megacampus was 95.4% occupied as of March 31, 2026.
Alexandria Real Estate Equities said it has delivered a 427,000 rentable square feet Research & Development hub to Bristol Myers Squibb at its Campus Point by Alexandria Megacampus in San Diego, extending a relationship the company said dates back to 1998. The real estate investment trust said Campus Point was 95.4% occupied as of March 31, 2026 and spans 2.9 million rentable square feet, including 1.3 million square feet in operation, 0.9 million square feet under construction and 0.7 million square feet available for future development and redevelopment. Alexandria said the project underscores its Megacampus strategy, which clusters life science and advanced technology tenants near major research institutions and talent pools. Bret Gossett, executive vice president – co-regional market director and head of leasing for the San Diego region at Alexandria Real Estate Equities, said the campus is designed to help tenants expand within the same ecosystem, recruit and retain talent, translate research into treatments and build industry relationships. The company said its San Diego region comprised 6.2 million rentable square feet of operating assets and 0.9 million rentable square feet of development assets as of March 31, 2026. It also highlighted Campus Point's location in The Miracle Mile of Medicine in San Diego near Salk Institute, Scripps Research and University of California, San Diego, as well as planned amenities including walking paths, a retail breezeway, a community farm and market, pickleball courts, athletic fields, fitness and wellness spaces, conference areas and food venues. Alexandria said it had a total market capitalization of $20.44 billion and 35.8 million rentable square feet of operating properties in North America as of March 31, 2026. The release also said forward-looking statements cover expected benefits from Campus Point, including support for BMS growth, tenant demand, leasing velocity, portfolio performance and long-term value creation, while noting actual results may differ materially based on risks described in filings with the Securities and Exchange Commission (U.S. markets regulator).