{"id":22283,"date":"2021-03-23T17:54:10","date_gmt":"2021-03-23T17:54:10","guid":{"rendered":"https:\/\/www.duncanindustrialgroup.com\/?p=22283"},"modified":"2022-07-27T16:34:05","modified_gmt":"2022-07-27T16:34:05","slug":"healthpeak-redevelopment","status":"publish","type":"post","link":"https:\/\/www.duncanindustrialgroup.com\/healthpeak-redevelopment\/","title":{"rendered":"Healthpeak Properties Redevelopment To Double Space at San Diego Biotech Campus"},"content":{"rendered":"<p>Healthpeak Properties intends to double the space at its life science campus in San Diego\u2019s\u00a0<span class=\"Enhancement\"><span class=\"Enhancement-item\">Torrey Pines<\/span><\/span>\u00a0neighborhood, the latest sign of rising local and national demand for biotech-related real estate.<\/p>\n<p>Healthpeak Properties, among the nation\u2019s largest holders of biotech and medical office real estate, announced plans to expand its Callan Ridge life science campus at\u00a0<span class=\"Enhancement\"><span class=\"Enhancement-item\">3020-3030 Callan Road<\/span><\/span>\u00a0in Torrey Pines.<\/p>\n<p>Plans call for replacing an outmoded 90,000-square-foot building with a new two-building campus totaling 185,000 square feet, according to a Healthpeak statement. The project includes a \u201cgreen roof viewing deck\u201d with coastal and canyon views, with other elements designed to support life science uses.<\/p>\n<p>Healthpeak, based in Denver, did not respond to CoStar News\u2019 requests for comment or provide further details, including development costs and timetables. CoStar data shows the current Callan Ridge campus was built in 1983 and renovated in 1999.<\/p>\n<p>The project is the latest in a series of developments, expansions and property purchases undertaken during the past few years by Healthpeak and its major U.S. competitors in biotech real estate, including Alexandria Real Estate Equities and BioMed Realty.<\/p>\n<p>In numerous cities led by Boston, San Francisco and San Diego, an already strong biotech demand climate has further heated up during the past year, amid expansion by firms focused on coronavirus treatments and vaccines. Research and development are being spurred by steady influxes of government funding and private venture capital.<\/p>\n<p>The Healthpeak expansion comes amid another sign of escalating demand among tenants focused on medical cures and treatments in the San Diego region: Surgalign Spine Technologies leased 94,457 square feet at landlord SNH Medical Office Properties Trust\u2019s building at\u00a0<span class=\"Enhancement\"><span class=\"Enhancement-item\"><a class=\"Link\n\" href=\"https:\/\/product.costar.com\/detail\/lookup\/313467\/summary\">3030 Science Park Road<\/a><\/span><\/span>\u00a0in the same Torrey Pines neighborhood, according to a federal regulatory filing this week.<\/p>\n<p>San Diego\u2019s Torrey Pines neighborhood, which is part of the larger coastal village of La Jolla, has for decades been the region\u2019s primary hub for biotech development and also among San Diego\u2019s most expensive office markets.<\/p>\n<p>But during the past decade, it has become essentially built out and filled up, leading developers and tenants to seek out biotech space in other San Diego neighborhoods including University Town Center, Sorrento Mesa and, most recently, downtown San Diego.<\/p>\n<p>Healthpeak Properties this week also announced that it intends to soon start construction on a new biotech development called Nexus on Grand in South San Francisco. The five-story, 141,000-square-foot laboratory project at 233 E. Grand Ave. will add to Healthpeak\u2019s sizable footprint in San Francisco, Boston and San Diego.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Original Article:<\/strong><\/p>\n<p><a href=\"https:\/\/product.costar.com\/home\/news\/shared\/1844058981?source=sharedNewsEmail\" target=\"_blank\" rel=\"noopener\">https:\/\/product.costar.com\/home\/news\/shared\/1844058981?source=sharedNewsEmail<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Healthpeak Properties intends to double the space at its life science campus in San Diego\u2019s\u00a0Torrey Pines\u00a0neighborhood, the latest sign of rising local and national demand [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Healthpeak Properties Redevelopment To Double Space at San Diego Biotech Campus - 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