Long-Term Lease Brings Breakthrough’s 520,000-Square-Foot Premier Research and Development Campus to 100% Leased Prior To Construction Completion
Breakthrough Properties, a leading global life sciences real estate developer, owner and operator, is pleased to welcome Pfizer Oncology to Torrey View, its premier life science campus quickly nearing completion in San Diego. As part of a 15-year, 230,000-square-foot lease, Pfizer will drive its commitment to accelerating breakthroughs for cancer patients utilizing two state-of-the-art research and development buildings.
A joint venture of global developer Tishman Speyer and biotechnology investment firm Bellco Capital, Breakthrough Properties has also formed a separate, global strategic collaboration with Pfizer that will bring scientific innovations to patients more quickly by providing Breakthrough clients with streamlined access to Pfizer’s extensive scientific, clinical and strategic infrastructure via Pfizer Ignite.
Torrey View
Breakthrough Properties has now successfully preleased the entirety of its 10-acre Torrey View campus in advance of the development’s full completion. Pfizer Oncology is joined at the fully leased, 10-acre campus by leading global medical technology company BD (Becton, Dickinson and Company) Biosciences Division, which began a phased move-in of its San Diego workforce in late 2023. 89% of the three-building Torrey View campus is now secured by long-term investment grade credit, with the balance of the campus leased to innovative hyper-growth biotechnology firms.
Torrey View, which Breakthrough is developing alongside its co-equity partners Mitsui Fudosan America, Investment Management Corporation of Ontario (IMCO) and AP2, will feature expansive ocean views and a full suite of curated campus amenities, including a client clubhouse, multiple dining options, a Jay Wright-designed fitness center and pickleball court, a 400-person conference facility, robust bike and surfboard storage, and onsite parking via a partially below-grade garage covered by open green spaces and gardens.
“Breakthrough is proud to support the Pfizer Oncology team as they continue to discover and develop next generation therapies,” said Breakthrough Properties President and CEO Dan Belldegrun. “Torrey View is an ideal campus for innovation, offering high quality lab infrastructure as well as unparalleled amenities, expansive open space, and a community of like-minded innovators ranging from established pharmas to growing biotechs.”
“Tishman Speyer is thrilled to expand our relationship with Pfizer,” said Breakthrough Properties Co-Chairman and Tishman Speyer CEO Rob Speyer. “Torrey View will provide Pfizer Oncology with best-in-class space that will enable scientific discoveries and new therapies to improve patients’ lives around the globe.”
Pfizer Ignite x StudioLabs Collaboration
Breakthrough announced a new collaboration between its StudioLabs platform and Pfizer Ignite, an end-to-end R&D service that connects innovative companies to Pfizer’s suite of research, development and manufacturing services alongside input from an expert advisory network.
Under the agreement, StudioLabs clients will have the opportunity to collaborate with Pfizer Ignite in therapeutic areas of strategic interest, such as oncology, inflammation & immunology, internal medicine, infectious disease, vaccines and non-malignant hematology. Breakthrough clients will gain streamlined access to Pfizer’s resources, scale, and expertise that leverages Pfizer’s track record in the development and commercialization of breakthrough medicines. There may also be opportunities for clients to collaborate with Pfizer’s CDMO, CentreOne, and its broader partnering models, such as Pfizer Ventures.
“We are thrilled to expand our working relationship with Pfizer to support the development of novel preclinical and clinical programs that aim to benefit patients,” said Breakthrough Properties Chief Business Officer Susie Harborth. “In addition to further expanding the resources available to our client companies, this partnership exemplifies our ability to provide access to an unparalleled ecosystem for innovation and enable our companies within the Breakthrough portfolio opportunities to conduct and further accelerate their science from Day 1.”
Breakthrough Properties created its StudioLabs platform to provide premium, shared innovation centers for hyper-growth life science companies. Over the next two years, Breakthrough will operate over 250,000 square feet of StudioLabs facilities across key life science clusters in the US and Europe, providing a truly global community. With shorter lease terms and a dedicated concierge team, StudioLabs provides flexibility, operational excellence and resources that go beyond real estate, including access to Breakthrough’s Scientific Advisory Board, fully furnished private lab and office suites, networking and thought leadership events.
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