Biotech buyer acquires most of Manchester Pacific Gateway for $1.5B waterfront life science campus
A rendering of what’s being called the San Diego Research and Development District, or RaDD, as seen from the San Diego Bay. IQHQ has purchased five city blocks from Manchester Financial Group with immediate plans to build a life science campus.
(Courtesy of IQHQ)
Real estate firm IQHQ is taking over five city blocks along the bay for what it’s calling the San Diego Research and Development District
By JENNIFER VAN GROVE
SEP. 27, 2020
Hoping to make a splash in downtown’s real estate market, a celebrated biotech office developer has purchased more than 8 acres of waterfront land to create a life science city along San Diego’s Bay.
Friday, the newly formed IQHQ real estate investment group, started by storied life science builder Alan Gold, completed its acquisition of around two-thirds — or five city blocks — of the development site known as Manchester Pacific Gateway. The transaction paves the way for what IQHQ is calling the San Diego Research and Development District, or RaDD, as a massive lab-filled campus where ground-floor retail and unrivaled bay views work to recruit the biggest names in the pharmaceutical industry.
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