Q3 Snapshot: San Diego's Top Developments, Acquisitions & Expansions

Learn what developments were completed, which buildings were sold, and which top companies expanded their local presence in Q3 2024.

Sep 27, 2024

Business of San Diego is expanding its business coverage. In addition to receiving news on the latest happenings in the local startup and venture capital scene — you can now expect quarterly reports on the San Diego Real Estate market.

Disclaimer: this is a curated snapshot with a goal of compiling *most* of the important headlines in a digestible format. Comments or feedback is welcome.

In July, hundreds of members of the local San Diego community were invited to attend the grand opening of a new project called the **West** — a brand-new downtown that cost more roughly $510 million to complete.

Top Developments in San Diego

Holland Partner Group opened $510M building called West in Downtown.
Longfellow RE Partners completes $200M+ biotech building in Sorrento Valley.
GPI Real Estate Group completed $100M building at UC San Diego, La Jolla.
Frontwave Arena opens $85M sports and entertainment complex in Oceanside.
Fairmont Grand hotel completes $10M renovation project in Del Mar.

The Irvine Company — San Diego’s largest office landlord — sold Symphony Towers an iconic 34-story office tower for $45.7M after 21 years of ownership.

Notable Sales & Acquisitions in San Diego

Braemar Hotels & Resorts acquires the Hilton for $165 million in Torrey Pines.
Virtú Investments buys ALX apartment building for $137M in East Village.
Levine Leichtman family buys SD Wave League for $120M from Ron Burkle.
Decron Properties buys Market West shopping center for $99M in Mira Mesa.
Formosa buys Symphony Towers for $45M from Irvine Company in Downtown.
Gelt Venture Partners buys Rancho Hill apartments for $53.5 million in Vista.
Staley Point and Bain Capital buys industrial building for $20 million in Poway.

In July, BioMed Realty announce BlossomHill Therapeutics leased for 46,353 square feet of lab and office space at 10255 Science Center Drive in Torrey Pines.

Major Expansions in San Diego

BlossomHill Therapeutics expands into BioMed Realty building in Torrey Pines.
TriLink BioTechnologies expands with manufacturing site in Sorrento Valley.
Scripps Research expands with Chi-Huey Wong Laboratory at its La Jolla campus.
Crinetics Pharmaceuticals expands into new headquarters in Sorrento Mesa.
Vividion Therapeutics moves global research and R&D center to Sorrento Valley.
Novartis expands with $40M manufacturing site in Carlsbad.
City of San Diego expands into Five50West building in downtown.
Meals on Wheels expands in Kearny Mesa from Old Town.

Interested in learning more?

In August, I shared via LinkedIn that in addition to writing this weekly newsletter — I accepted a full-time advisor role at a global commercial real estate firm to help startups & companies with their commercial real estate strategy.

If you’re a local company that is growing or need assistance understanding what’s happening in the real estate market — we have a ton of research and insights on the local office market ranging from North County to Sorrento Valley to Downtown.

Feel free to send me a note at fred.grier@jll.com to learn more.