Top 5 Office Projects Under Construction in San Diego
Some 2.6 million square feet are underway in the market, according to Yardi Research Data.
San Diego’s under-construction pipeline consisted of 2.6 million square feet of competitive office space across 16 properties as of May, according to Yardi Research Data. This represents 2.3 percent of its existing stock—well above the national rate of 0.9 percent. During the first five months of 2015, as developers kept adding new projects in the metro, San Diego emerged as one of the most active pipelines in the U.S., placing fourth among the top 25 most active office markets for construction.
The following list highlights San Diego’s top five largest office properties underway, as of the end of May. These projects encompass a combined 1.6 million square feet and consist of mainly life science projects. Most of them are situated in the downtown area of the city as well as within the Sorrento Valley submarket.
1. 4135 Campus Point Court
In November 2023, developer Alexandria Real Estate Equities started construction on the 426,927-square-foot project at 4135 Campus Point Court. This life science property is part of the company’s larger complex, dubbed Alexandria Campus Point, a 2 million-square-foot property fully preleased by Bristol-Myers Squibb Co. The property is within the metro’s University Town Center submarket and is expected to come online in early 2026.
The project will include laboratory and office space, while amenities will spread across more than 100,000 square feet and will include a wellness and a fitness center, a conference center and an on-site garden.
Alexandria Real Estate Equities bought the development site and buildings for this project in 2018 and redeveloped them while also adding new properties. One of these facilities is The Campus Point Technology Center, a 172,000-square-foot facility. Located at 4110 Campus Point Court, this property was planned by the developer for Leidos, a Fortune 500 tech company.
2. The Campus at Horton Plaza, Building 100
The second-largest project under construction is the 377,988-square-foot life science building at 100 Horton Plaza, in downtown San Diego. Developer Stockdale Capital Partners broke ground on the project in 2020, while delivery is scheduled for the end of this year.
This nine-story building is part of Stockdale Capital Partners’ Campus at Horton Plaza, an adaptive reuse project, funded by a $241.1 million construction loan originated by AllianceBernstein. Built on a previous downtown mall, the life science campus will include 1 million square feet of office, R&D and retail space across nine buildings.
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3. Bioterra
The next project is the 323,000-square-foot property at 5889 Oberlin Drive, in the Sorrento Valley submarket. Another life science development, construction started in 2022 with Longfellow Real Estate Partners as developer, with $165 million in construction funding by Bank OZK. It is expected to reach completion by the end of this year.
The project is one of the first ground-up lab spaces to rise in the Sorrento Mesa neighborhood of the city, one of San Diego’s growing science hubs. Close to the University of California, San Diego as well as multiple research and medical facilities, the property features an extensive amenity package with a fitness center, a wellness center, a conference center, a curated art program, private terraces, outdoor lounge spaces and an open-air rooftop space. JLL is the exclusive leasing broker in charge of Bioterra.
4. The McGrath Outpatient Pavilion at Hillcrest Medical Campus
The next project on our list is a medical office property totaling 250,000 square feet at 4250 First Ave., owned by UC San Diego Health, the academic health system of University of California, San Diego. With DPR Construction as general contractor and Arcadis as designer, construction kicked off in late 2021 and is expected to reach completion this summer. The McGrath Family Foundation provided $25 million for the project.
The McGrath Outpatient Pavilion will be an advanced six-story medical facility with multiple clinical programs and services including neurology, neurosurgery, plastic and trauma surgery, orthopedic care, perinatology and multi-specialty cancer treatments. The outpatient facility is the first phase of UC San Diego Health’s Hillcrest Medical Campus, a redevelopment project on 62 acres that will include the relocation and replacement of UC San Diego Health’s main hospital.
5. The Campus at Horton Plaza, Building 200
The last development on our list is Building 200 at Stockdale Capital Partners’ Campus at Horton Plaza. Totaling 204,842 square feet, the four-story life science property is at 200 Horton Plaza. Part of the same upcoming life science and mixed-use development, construction on this property began in 2020 and has the same estimated delivery date. Cushman & Wakefield is the leasing broker handling Building 200.
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