San Diego, California – Pfizer has officially sold its long-standing research campus in San Diego’s Torrey Pines neighborhood as the pharmaceutical giant prepares to transition to a new facility in the region.
The five-building campus on Science Center Drive was sold to life sciences real estate firm BioMed Realty for $255 million, according to The San Diego Union-Tribune. BioMed Realty already owns several nearby properties in the area, further expanding its footprint in the prominent life sciences corridor.
Pfizer’s presence in San Diego dates back several decades. The company acquired the 33-acre site in 2004 for $372 million, establishing it as a hub for late-stage clinical research in oncology and HIV. In 2012, Pfizer sold three buildings from the original purchase for $51 million, retaining five buildings totaling over 500,000 square feet…