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June 17, 2020  

Alexandria Nabs San Diego Offices

Alexandria Real Estate Equities this month paid $43 million for a San Diego office building in a short-term sale-leaseback play.The property consists of 41,000 square feet at 4555 Executive Drive. The seller, the Braille Institute, will sign a lease to fully occupy the property for up to three years.Newmark brokered the sale. Alexandria, a Pasadena, Calif., REIT, eventually plans to demolish the structure and develop a life-sciences property...

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