The vacant lot at the corner of El Camino Real and Townsgate Drive known as the “Pell Property” has been acquired by Alexandria Real Estate Equities. The property sits on the edge of the Del Mar Highlands Town Center, near El Pollo Loco and the center’s 120,000 square foot expansion project called “The Collection”.
Alexandria specializes in developments for life science and technology companies—sample tenants in their San Diego buildings include Illumina, Celgene Corporation and the Scripps Research Institute.
According to Kim Elliott, assistant vice president of real estate development and community relations, they are just starting the planning design process and will be working with the Carmel Valley Community Planning Board’s subcommittee.
Elliott said they have also met with Donahue Schriber about integrating their project with Del Mar Highlands Town Center..
For many years there was a caretaker living on the property as well as a loud guard dog. Elliott said the buildings on the site are becoming a nuisance and they may be demolished soon—Alexandria did their due diligence and determined the structures do not have historic significance.