Anthony Virula, a medical laboratory sciences student, peers through a microscope while practicing how to identify elements they will commonly see in slides at the Sundquist Science Complex in Clarksville, Tenn., on Thursday, April 8, 2021. Hpt Austin Peay Covid 19 Testing Semler Students 10
San Diego, California – Pfizer has officially sold its long-standing research campus in San Diego’s Torrey Pines neighborhood as the pharmaceutical giant prepares to transition to a new facility in the region.
The five-building campus on Science Center Drive was sold to life sciences real estate firm BioMed Realty for $255 million, according to The San Diego Union-Tribune. BioMed Realty already owns several nearby properties in the area, further expanding its footprint in the prominent life sciences corridor.
Pfizer’s presence in San Diego dates back several decades. The company acquired the 33-acre site in 2004 for $372 million, establishing it as a hub for late-stage clinical research in oncology and HIV. In 2012, Pfizer sold three buildings from the original purchase for $51 million, retaining five buildings totaling over 500,000 square feet.
Scientists at the site contributed to key medical breakthroughs, including the development of the blockbuster breast cancer drug Ibrance.
As part of the transition, Pfizer is also laying off 56 employees stationed at one of the Science Center Drive addresses, according to a state WARN (Worker Adjustment and Retraining Notification) Act notice. The layoffs will take effect on June 2. A company spokesperson stated that the job cuts are not directly related to the property sale.
“Pfizer is improving its R&D productivity and efficiency with a sharpened focus on opportunities and simplifying the way it works, which we believe will deliver the greatest impact for patients,” the spokesperson said. “All job-related decisions have and will be made with transparency, compassion, and respect, and in compliance with applicable laws. Pfizer does not take these changes lightly.”
Pfizer’s new San Diego home will be in the Torrey View campus, located nearby. The company signed a 15-year lease last year for the new site, which includes 230,000 square feet of research and office space across two buildings on a 10-acre campus owned by Breakthrough Properties.
Other tenants at Torrey View include medical device manufacturer BD and contract research firm Charles River Laboratories. While Pfizer has not specified an official move-in date, the company said in October it was preparing to “soon open the doors” to the new facility.
The move is part of Pfizer’s broader strategy to streamline operations while continuing to invest in innovative cancer research.
