SAN DIEGO – Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced that Verenium has signed a 126-month lease valued at $24 million for 59,199 square feet of office and laboratory space at Nautilus in Torrey Pines.
Nautilus is an approximately 87,645-square-foot, two-building, two-story, Class A laboratory and office project currently under construction. The property is located off of Genesee Avenue at the corner of John Jay Hopkins Drive and John Hopkins Court. Project construction began in March 2011 and is scheduled for completion in June 2012.
Verenium leased the building located at 3550 John Hopkins Court. The company evolves bacterial and fungal DNA to create enzymes that transform and dramatically improve industrial processes.
Dave Odmark, Brian Starck and Jerry Keeney of Cassidy Turley BRE Commercial’s Life Sciences Group represented the property developer and owner, Alexandria Real Estate Equities, Inc., in the transaction. Greg Bisconti and Brent Jacobs of Cushman & Wakefield represented Verenium.
Cassidy Turley BRE Commercial’s Life Sciences Group attributes their successful lease of one of Nautilus’ buildings one year prior to the estimated construction completion date to the project’s enticing design, location and LEED Silver certification. Verenium’s lease is the largest lab lease signed in Torrey Pines in the last three years, according to CoStar.
Nautilus features unparalleled access to Torrey Pines Golf Course, The Lodge at Torrey Pines, and Torrey Pines State Park’s beach and running trails. The project is within walking distance to UCSD, TSRI, Sanford Burnham and the Salk Institute. Additional amenities include a state-of-the-art conferencing facility, spa-quality showers and lockers, an outdoor meeting area and lounge with a fire pit, and subterranean parking.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,200 professionals in 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 $17 billion in 2010, manages 430 million square feet on behalf of private, institutional and corporate clients and supports over 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.