Newmark Facilitates the Sale of Esplanade Life Science Campus in San Diego

January 10, 2025 9:00 AM

Newmark announces it has facilitated the sale of Esplanade, a state-of-the-art life science campus located in the University Town Center (UTC) submarket of San Diego. Newmark Executive Managing Directors Brunson Howard, Rick Reeder and Brad Tecca, Co-Head of U.S. Capital Markets Kevin Shannon and Associate Tanner Harris represented the seller.

“The Esplanade transaction underscores the resilience of the San Diego life science sector and the continued demand from investors seeking exposure to the San Diego life science marketplace,” said Howard.

Situated less than a half mile from the Executive Drive Station of San Diego’s Mid-Coast Trolley system and adjacent to Interstate 805, Esplanade offers unparalleled connectivity. The campus is also near the recently redeveloped Westfield UTC shopping center and a 10-minute drive from La Jolla Cove, providing tenants with access to world-class amenities and lifestyle offerings.

San Diego’s life science sector continues to attract significant venture capital investment, fueling tenant demand for premium facilities like Esplanade, according to Newmark Research. The region’s robust ecosystem supports innovation and growth, making it a magnet for both startups and established companies in the life science and technology sectors.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of approximately $2.6 billion. As of that same date, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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