Leidos Plans 172 KSF San Diego Building

4110 Campus Point Court. Image courtesy of Leidos

Leidos, a Fortune 500 technology, engineering and science solutions and services company headquartered in Reston, Va., recently held a groundbreaking ceremony for its new 172,000-square-foot facility planned for Campus Point in San Diego. Development will begin in May and is slated for a mid-2024 completion.

Alexandria Real Estate Equities, which has owned the property in the University City submarket since 2018, is serving as the primary developer of the new six-story building at 4110 Campus Point Court. Currently Leidos occupies two buildings at Campus Point and the new building will consolidate operations in those two older buildings into the new facility that will include multiple floor levels for secure classified spaces and programs. The project will also include redevelopment of the surrounding area for amenities, including a fitness center, multiple restaurants, a shared conference center and a market.

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The Leidos Innovations Center (LInC), the heart of research and development in advancing technologies at Leidos, is the main occupant of the buildings and will continue to be the primary tenant in the building along with some members of the company’s Defense Group. Leidos currently has more than 350 employees at the site now and the new building will have seating for more than 400 employees. Overall, Leidos has about 43,000 employees who support vital missions for government and commercial customers.

Alexandria’s acquisitions

According to information filed with the U.S. Securities and Exchange Commission in February 2019, Alexandria Real Estate Equities acquired two buildings adjacent to its Campus Pointe by Alexandria campus in the fourth quarter of 2018. Alexandria stated there were two properties totaling 269,048 rentable square feet—a 109,164-square-foot building at 10260 Campus Point Drive and a 159,884-square-foot building at 4161 Campus Point Court, which were fully leased through 2022. The SEC filing noted 10260 Campus Point Drive was to be redeveloped at lease expiration into a new building that was preleased for 15 years. Alexandria stated it paid $80 million for the properties between December 2018 and January 2019.

Alexandria owns about 8.4 million square feet of office, technology and life science space in San Diego throughout submarkets including Torrey Pines, University Town Center, Sorrento Mesa and Sorrento Valley.