SAN DIEGO – Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced that Ligand Pharmaceuticals has signed an 84-month lease valued at $3.9 million for 16,429 square feet of office and laboratory space at Arenisca in Torrey Pines.
Ligand is the first lease signed at Arenisca, an approximately 72,419-square-foot, three-story, Class A laboratory and office project currently under construction. The property is prominently located at 11119 North Torrey Pines Road directly across from the Torrey Pines Golf Course. Project construction began in September 2011 and is scheduled for completion before July 2012, when Ligand is slated to move into the building.
Ligand Pharmaceuticals is a biotechnology company that has produced more than 40 clinical candidates and five approved drugs.
Brian Starck, Jerry Keeney and Dave Odmark of Cassidy Turley BRE Commercial’s Life Sciences Group represented the property developer and owner, Alexandria Real Estate Equities, Inc., in the transaction. T.D. Rolf of Studley represented Ligand.
Arenisca will feature brand new interior and exterior improvements, LEED Silver certification and flexible floor plates to accommodate users from 14,000 to 60,000 square feet. Building finishes will include floor to ceiling glass as well as stone, steel and wood treatments. The building boasts fantastic visibility complemented by golf course and state-reserve views. Amenities will include an on-site organic bistro, conferencing facility, putting greens and access to the County’s finest running trails, beaches, and golf courses.
For more information about leasing opportunities at Arenisca, please contact Brian Starck at 858.546.5400.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services with local San Diego market leader Cassidy Turley BRE Commercial. The company’s dominant market presence includes more than 160 professionals and staff in five local offices and recorded nearly $1.2 billion in transactions in 2010. For more information about Cassidy Turley BRE Commercial, please visit www.brecommercial.com.
About Alexandria Real Estate Equities, Inc.
Landlord of Choice to the Life Science Industry®, is the largest owner and preeminent REIT focused principally on cluster development through the ownership, operation, management, selective redevelopment, development, and acquisition of properties containing life science laboratory space. Alexandria is the leading provider of high-quality, environmentally sustainable real estate, technical infrastructure, and services to the broad and diverse life science industry. Client tenants include institutional (universities and independent not-for-profit institutions), pharmaceutical, biotechnology, medical device, product, service, and translational entities, as well as government agencies. Alexandria’s operating platform is based on the principle of “clustering,” with assets and operations located in key life science markets.