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10/13/21
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Tandem Diabetes, an insulin delivery and diabetes technology company, has leased 182k sf of Class A office and lab space at Del Mar Corporate Centre campus in Del Mar Heights. This deal brings the building, owned by Kilroy Realty, to 100% leased.
San Diego-based Tandem Diabetes’ will be located in the 12400 High Bluff Dr building, known as Del Mar Corporate Centre III (DMCC III). The medical device company is moving its headquarters from nearby Sorrento Valley.
Del Mar Corporate Centre is a three-building, 350k sf Class A life science and tech campus in San Diego’s Del Mar Heights neighborhood, near the Interstate 5/State Route 56 interchange. The campus is surrounded by world-class shopping and dining and offers excellent visibility and accessibility from Interstate 5.
Brett Ward, Michael Cassolato, and Brian Starck of Cushman & Wakefield represented Kilroy Realty. Ted Jacobs and Andy Huggett with CBRE repped Tandem Diabetes in the transaction. Terms of the deal were not disclosed.
“As the supply remains at all-time lows in Torrey Pines and University Town Center (UTC) coupled with significant rent growth, we continue to see, greater demand for Class A space from life science companies in the Del Mar Heights and 56 Corridor submarkets,” Ward noted. Last month, DermTech, a leader in precision dermatology enabled by a non-invasive skin genomics platform, had leased a 96k sf building at DMCC II for its new headquarters.
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