SAN DIEGO – Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced that PaxVax, Inc. has signed a new seven-year lease valued at $3.3 million for wet lab and office space in Sorrento Valley.
PaxVax, Inc. leased 18,012 square feet in the Sorrento Research Facility located at 3985 Sorrento Valley Boulevard.
Dave Odmark, Jerry Keeney and Brian Starck of Cassidy Turley BRE Commercial’s Life Sciences Group represented both PaxVax, Inc. and the property owner, Alexandria Real Estate Equities, Inc., in the transaction.
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 more than $1.2 billion in transactions in 2011. 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.
PaxVax is a privately held company established in 2007 to develop and commercialize innovative and socially responsible vaccines against infectious diseases. PaxVax has a clinical-stage product portfolio, including a cholera vaccine entering Phase 3 and a pandemic H5N1 influenza vaccine entering Phase 2. The company also has vaccines in development for HIV and anthrax under R&D contracts with NIH/DAIDS and NIH/NIAID. The company’s proprietary adenoviral-based technology platform enables the rapid development of oral vaccines that can target any viral or bacterial protein antigen. The company's vaccine candidates are designed to be easier to manufacture, store, distribute, administer and deliver across the globe than conventional injectable vaccines while enhancing the desired immune response to the vaccine antigens. The company’s offices are headquartered in Menlo Park, Calif., and the R&D laboratories and licensed GMP production facility are based in San Diego, Calif.