Alexandria Real Estate Equities, Inc. (NYSE: ARE) has completed delivery of a 427,000 rentable square foot research and development hub for Bristol Myers Squibb at its Campus Point by Alexandria Megacampus in San Diego, California, according to a press release dated July 20, 2026.

The facility serves as an anchor tenancy for Bristol Myers Squibb, which has maintained a partnership with Alexandria since 1998 across multiple life science and technology clusters.

Campus Point spans 2.9 million rentable square feet in total, comprising 1.3 million RSF of properties in operation, 0.9 million RSF under construction, and 0.7 million RSF available for future development and redevelopment. As of March 31, 2026, the campus reported 95.4% occupancy.

Alexandria first entered the San Diego market in 1994 with the acquisition of a laboratory building in Torrey Pines, and launched the initial phase of the Campus Point development in 2010. The campus is located near research institutions including the Salk Institute, Scripps Research, and the University of California, San Diego.

Alexandria's San Diego region comprises 6.2 million RSF of operating assets and 0.9 million RSF of development assets as of March 31, 2026.

Planned campus amenities include walking paths, a retail breezeway, a community farm and market, pickleball courts, athletic fields, fitness and wellness spaces, and multiple dining options.

"We are grateful and proud to continue our decades-long partnership with Bristol Myers Squibb with their new R&D hub at Campus Point," said Bret Gossett, executive vice president and co-regional market director at Alexandria.

As of March 31, 2026, Alexandria reported a total market capitalization of $20.44 billion and an asset base of 35.8 million RSF of operating properties across North America.