San Diego, CA | May 10, 2022
Vista Sorrento Labs to be TCC & CBRE IM’s Latest Life Science Development
Trammell Crow Company (TCC), a global commercial real estate developer, in partnership with CBRE Investment Management on behalf of a separate account client, announced plans for Vista Sorrento Labs, a 116,000-square-foot life science development in the Sorrento Mesa submarket of San Diego. The purpose-built life science building marks both firms’ first ground-up life science project in San Diego. The partnership plans to begin demolition of the existing building and break ground on the new facility in Q4 2022, with completion anticipated for early 2024.
“The TCC team is excited to officially kick off the marketing process for this world-class life science project in San Diego, a market we strongly believe in. This fall’s scheduled groundbreaking will mark the first of multiple planned ground-up life science developments in Sorrento Mesa, which will add approximately 700,000 square feet of much-needed life science space to the submarket,” said Chris Tipre of TCC Newport Beach. “TCC has a wide net of development expertise across Southern California and a strong track record in the life science specialty in other major clusters across the U.S. We look forward to expanding our development portfolio both in geography and product type in San Diego.”
Vista Sorrento Labs will be a speculative, purpose-built four-story life science building, with 32,000-square-foot, column-free floor plates. The building is designed to deliver Class A lab, clean room and office space, featuring state-of-the-art specifications including upgraded MEP and structural engineering, 16’ floor-to-floor heights, and on-site chemical storage. Plans for the Ware Malcomb-designed building include EV charging stations, a high-end fitness center with showers and locker rooms, indoor and outdoor conference rooms, lounge, bike storage, solar panels, LEED certification, and a combination of surface and structured parking.
“The life science sector remains a key component of our investment strategy for our client given the intense demand for quality lab and research spaces amid the global pandemic,” said Nathan Zinn, Portfolio Manager for CBRE Investment Management. “We believe that the location of this development – in one of the top three life science markets in the U.S – combined with our partnership with TCC will generate strong long-term performance.”
“Vista Sorrento Labs is located in one of the top-performing life science clusters in the country, which is currently experiencing a lack of supply and overwhelming demand for high-quality space,” said Andy Huggett of CBRE, which is handling marketing and leasing for the development. “In addition to best-in-class design, the project is ideally located, offering prominent freeway visibility and convenient access. We have been looking forward to kicking off our pre-leasing efforts so that the team can capitalize on San Diego’s record-breaking leasing activity.”
Located at 10251 Vista Sorrento Parkway, Vista Sorrento Labs is centrally located in the heart of the nation’s #3 Life Science Super Cluster. The site, situated on over four and a half acres, enjoys immediate access to nearby amenities in Sorrento Mesa and UTC, as well as prominent freeway visibility and convenient access to I-805 and nearby I-5.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is a global commercial real estate developer having developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of March 31, 2022, TCC had $19.8 billion of projects in process and $10.1 billion in its pipeline. It employs 700 professionals throughout the United States and Europe.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 26 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (based on 2021 revenue). For more information visit www.TrammellCrow.com.
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