Market Highlights

• Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, acquired MUSE for $159.0 million. The 186,000-square-foot (sf) Torrey Pines lab and research campus includes three renovated buildings with upgraded amenities.
• Maravai LifeSciences acquired Officinae Bio’s DNA and RNA business, enhancing mRNA design and manufacturing capabilities.
• King Street Properties acquired The Esplanade, a 241,963-sf San Diego life sciences campus, from Alexandria Real Estate for $120.0 million. The deal includes a $166.0 million seller carry-back loan and a fourth building set to close in late 2025.

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