September 29, 2020
Life sciences development company IQHQ acquired an iconic eight-acre development site along San Diego’s waterfront from Manchester Financial Group and commenced construction on the San Diego Research and Development District (The RaDD). Entitled for new office, lab and support retail space, the project spans three city blocks and represents the largest urban commercial waterfront site along California’s Pacific coast.
IQHQ’s Tracy A. Murphy says, “The Research and Development District is exciting on so many levels – not only does it represent our first acquisition in the San Diego region, which IQHQ is proud to call home, we also have an opportunity to create the first truly urban waterfront campus dedicated to the advancement of life sciences.”
With entitlements secured and key foundation permits already in-hand, IQHQ is breaking ground on the first phase this week. Completion of the initial phase of Downtown San Diego’s first life science campus is anticipated in Summer 2023.
Cushman & Wakefield’s Rick Reeder brokered the transaction.
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