Divco West Real Estate Services, LLC acquired 11119 North Torrey Pines Road from Alexandria Real Estate Equities, Inc. for $86 million on May 4, 2023. The total 72,506 Square Feet price per Square Feet is $1,186. These proceeds will serve as an important source of capital that eliminates Alexandria Real Estate Equities, Inc. (NYSE:ARE) need to issue common equity in 2023.

Divco West Real Estate Services, LLC completed the acquisition of 11119 North Torrey Pines Road from Alexandria Real Estate Equities, Inc. on May 4, 2023.