Novartis breaks ground at Campus Point by Alexandria
Novartis began a $1.1B, 466,000 SF research center at Alexandria's 100-acre Campus Point in February 2026, following BMS's 427,000 SF hub delivery.
What's happening
Alexandria Real Estate Equities' Campus Point megacampus in University City continues to fill with large pharmaceutical users. Alexandria delivered a 427,000 rentable square foot research hub for Bristol Myers Squibb, and Novartis broke ground in February 2026 on a 466,000 square foot biomedical research center there.
Novartis says the $1.1 billion facility will house about 1,000 employees and is scheduled for completion in 2029. Alexandria described the 466,598 RSF build-to-suit as the largest life science lease in its history. The building targets LEED Gold Core & Shell and Fitwel certification and full electrification. The 100-acre campus is planned for more than 1.2 million square feet of office, lab and event space.
- Size: Over 1.2M SF on a 100-acre campus; Novartis building 466,000 SF
- Developer: Alexandria Real Estate Equities
- Location: Campus Point, University City, San Diego
- Status/Timing: BMS hub delivered; Novartis building under construction, completion 2029
- Cost: Novartis investment of $1.1 billion
What it means for owners, tenants and investors
San Diego's lab market has faced high vacancy, but large pharma commitments are concentrating at top-tier campuses. Owners of older or commodity lab space face a widening gap with amenitized megacampuses. Nearby housing and retail may benefit from about 1,000 new jobs.
Big pharma demand in San Diego is flowing to amenitized megacampuses like Campus Point.
What to watch
Construction progress on the Novartis building, Alexandria's broader asset sales, and whether other large users follow pharma into University City.
Imagery: Google Earth.
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