San Diego’s life science arms race just notched another big win. Alexandria Real Estate Equities has delivered a 427,000-square-foot research and development hub at its Campus Point megacampus, fully leased to Bristol Myers Squibb and officially announced on July 20, 2026. The new complex ranks among the largest recent completions in the Torrey Pines and University Town Center life science market, pulling multiple R&D teams together and adding serious lab capacity to the campus.
Industry coverage has confirmed the project’s completion and sized it at about 427,000 rentable square feet. According to Connect CRE, Campus Point itself spans roughly 2.9 million square feet, with about 1.3 million currently in operation, around 0.9 million under construction and roughly 0.7 million reserved for future development as of March 31, 2026.
Campus Point Built To Grow With Tenants
“Strategically designed to accelerate innovation, Campus Point provides tenants with the flexibility to expand within the same Megacampus ecosystem while helping them recruit and retain top talent, translate research into life-changing treatments with mission-critical infrastructure and leverage key industry relationships, all of which contribute to Alexandria's leasing velocity, portfolio performance and long-term business strategy,” Bret Gossett, Alexandria’s executive vice president and head of leasing for the San Diego region, said in a company release reported by PR Newswire. The announcement positions the new Bristol Myers Squibb hub as the latest chapter in a long-standing partnership between the two companies and points to on-campus amenities designed to help tenants attract and retain top scientific talent.
What It Means For Bristol Myers Squibb
Bristol Myers Squibb describes a new state-of-the-art San Diego site set to open in 2026 that will bring several local R&D teams together in one location. As detailed by Bristol Myers Squibb, the company already operates multiple facilities in the La Jolla and Torrey Pines area and expects the consolidated hub to help speed both discovery and translational research.
Official Filings And Square Footage
In filings with the U.S. Securities and Exchange Commission, Alexandria lists the project at 426,927 rentable square feet. Company materials and industry reports round that figure to 427,000 RSF, which is the number used in corporate announcements and coverage.
The delivery reinforces Campus Point’s status inside San Diego’s life science cluster and supports Alexandria’s broader development pipeline in the region. With large blocks of space still underway or available, the megacampus remains a prime target for major R&D tenants and prospective biotech hiring, according to Connect CRE.
