Breakthrough Properties Joined by San Diego Mayor Todd Gloria to Celebrate the Opening of Torrey View By Breakthrough Development

Breakthrough Properties

Fully Leased Life Science Campus is Now Home to Leading Companies Including Pfizer and BD Biosciences

Breakthrough Properties was joined by San Diego Mayor Todd Gloria, UCSD Chancellor Pradeep Khosla, Ph.D. and representatives from Pfizer and BD Biosciences on September 30 to commemorate the opening of Torrey View, its newly-developed, 10-acre life science campus in Del Mar Heights.

Breakthrough successfully pre-leased the entire 520,000-square-foot campus to an impressive lineup of leading companies months prior to completion. The oncology division of biopharmaceutical company Pfizer leased 230,000 square feet spanning two buildings. Global medical technology company BD (Becton, Dickinson and Company) created a 220,000-square-foot innovation center for its Biosciences division across a third building. Charles River Laboratories, Actio Biosciences and Architect Therapeutics have also established a presence at the campus.

Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, acquired the Torrey View site in October 2020 and transformed it into a world-class research and development center, which has achieved USGBC LEED Gold certification.

"This world-class campus is a setting fit for some of the brightest minds in medicine, and will further strengthen the thriving innovation ecosystem that fuels groundbreaking discoveries," said San Diego Mayor Todd Gloria. "I'm proud that top life-science companies continue to choose San Diego as their home, and I look forward to seeing the life-changing advancements that will come from this new facility."

"We are delighted to celebrate the completion of Torrey View alongside Mayor Gloria, UCSD Chancellor Dr. Pradeep Khosla and our many distinguished guests from San Diego's vibrant life sciences community," said Breakthrough CEO Dan Belldegrun. "We developed Torrey View as a premier hub of innovation and collaboration where important research will be conducted and advanced. We're proud to welcome these cutting-edge companies to their new home."

"Torrey View showcases Breakthrough's ability to deliver the best real estate product for the best minds in life science," said Tishman Speyer CEO Rob Speyer. "The work happening within these walls will literally save lives and reshape healthcare. I congratulate the Breakthrough team and thank our partners in the community for championing this project."

"We're proud to soon open the doors at our new site here in Torrey View, a site that will continue to enable world-class scientific innovation and the delivery of impactful new medicines to patients with cancer," said Jeff Settleman, Ph.D., Chief Scientific Officer for Oncology Research and Development Pfizer La Jolla site head. "Over the past few years, Pfizer has made a significant investment in the oncology therapeutic space – this new state-of-the-art facility is a reflection of our commitment to both our colleagues and the patients we serve."

"We need ecosystems like Torrey View to bring together the brightest minds, most innovative companies and forward-thinking entrepreneurs," said UCSD Chancellor Pradeep Khosla, Ph.D. "With the extensive premier life science space and amenities that Torrey View plans to offer, it is poised to become a hub for groundbreaking research, development and discovery. Academia needs strong partnerships to achieve maximum success."

Breakthrough developed Torrey View alongside its co-equity partners Mitsui Fudosan America, Investment Management Corporation of Ontario (IMCO) and AP2. To realize its vision, Breakthrough collaborated with life science architectural firm Flad Architects and general contractor Clark Construction. JLL exclusively handled the leasing program at the development.

The campus features 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 one of the most active players in the sector with a portfolio that spans more than five million square feet of premier life science environments in operation and in the development pipeline across the United States and Europe. Breakthrough's ongoing commitment to sustainability involves a particular emphasis on increasing energy efficiency, reducing carbon emissions and providing healthy workspaces for users, including targeting LEED Gold certification at its United States properties, as well as BREEAM Outstanding certification in all of its projects across the United Kingdom and EU markets.

In addition to Torrey View, Breakthrough's San Diego portfolio encompasses Torrey Plaza, Callan Ridge and Governor Pointe, a two-story life science campus nearing completion. Other portfolio highlights include The 105, a state-of-the-art facility fully leased by CRISPR Therapeutics, and One Milestone, two interconnected lab buildings under development at the Enterprise Research Campus, in Boston; 2300 Market, a research & development building nearing completion in Philadelphia; and Trinity, a bespoke lab and office project being developed in Oxford UK. In addition, StudioLabs by Breakthrough — curated, turn-key innovation environments for hypergrowth users — are being launched in several new markets.

About Breakthrough Properties

Formed in 2019 as a joint venture between global real estate owner, developer, and investor Tishman Speyer and biotechnology investment firm Bellco Capital, Breakthrough Properties is a life science real estate development company that leverages cross-sector collaboration to deliver environments that foster innovation and scientific breakthroughs. Breakthrough Properties' mission is to acquire, develop and operate the best life science properties in leading urban technology centers around the world and support scientific innovation across biotechnology, agriculture, and nutrition. Breakthrough combines Tishman Speyer's decades of global real estate development experience with Bellco Capital's industry-making biotechnology entrepreneurship to reimagine environments where companies can create life-changing therapies for patients.