REBusinessOnline

NEUROCRINE BIOSCIENCES CAMPUS SELLS FOR $109 MILLION

SAN DIEGO — San Diego-based Veralliance Properties, through its affiliate DMH Campus Investors, has acquired Neurocrine Biosciences Campus, a two-building campus located at 12780-12790 El Camino Real in San Diego’s Del Mar Heights submarket, for $109 million. The property includes two three-story buildings totaling 220,804 square feet, and a 4.2-acre parcel that is entitled for approximately 93,000 square feet of office space. Additionally, the sale included a 12-year leaseback to Neurocrine Biosciences for the laboratory building at 12780 El Camino Real. The office building is currently available for lease. Neil Fox and Mike Hoeck of Phase 3 Properties represented the seller, Neurocrine, dba Science Park Center LLC, and the buyer in the transaction.

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