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SOUTHERN CALIFORNIA NEWS
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Longfellow Real Estate Partners Buys 38k sf of Life Science Space in San Diego

2/04/19

Longfellow Real Estate Partners has acquired The Roselle campus, two life science buildings in San Diego totaling 37.6k sf. The buildings were sold by Parallel Capital Partners for $15.5 mil.

The building at 10575 Roselle St is 10k sf in size, while the building at 10581 Roselle St measures 27.6k sf. The project is 77 percent occupied, and all vacant spaces will undergo full lab build outs.

Roselle is located about a mile from the Inspire campus, which Longfellow acquired in November 2018. Inspire is made up of 12 buildings totaling 319k sf, and is a key part of the tech and life science cluster thriving in and around the Sorrento Valley.

The Roselle acquisition increases Longfellow’s portfolio to nearly 3.1 msf of tech and life sciences space owned and under management in innovation hubs such as Greater Boston, Philadelphia and North Carolina’s Research Triangle region.

Approximately 25% of the Roselle campus, or about 10k sf, is available for lease. Tenants at Roselle -- located less than half a mile from I-5, the Sorrento Valley’s main artery -- include Omniome Inc and AlivaMab Discovery. Longfellow’s planned capital improvements include amenity enhancements, landscaping, and signage/wayfinding.

In addition, Longfellow will implement its proprietary services and amenities package, Elevate, which aims to redefine workplaces with lifestyle perks. In all, Longfellow will significantly re-shape the amenities, services and programming at both Roselle and Inspire.






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