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10/05/11
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Ligand Pharmaceuticals has leased 16.4k sf of space at Arenisca, a 72.4k sf, three-story, Class A laboratory and office project currently under construction in Torrey Pines. The 84-month transaction is worth $3.9 mil ($2.83/sf/mo) and marks the first deal signed at the new development.
The property is located at 11119 North Torrey Pines Rd, 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.
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, is a biotechnology company that has produced more than 40 clinical candidates and five approved drugs.
Arenisca will feature brand new interior and exterior improvements, LEED Silver certification and flexible floor plates to accommodate users from 14k sf to 60k sf. 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.
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