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October 1, 2023
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Instil Bio Lines Up $85 Mil for Development of a Life Sciences Campus in the San Fernando Valley


Instil Bio has secured $85 mil in construction money for the development of a state-of-the-art, 102k sf life sciences campus in the San Fernando Valley community of Tarzana. Located at 18404-18412 Oxnard St, north of the 101 Fwy and just east of Reseda Blvd, the campus will feature lab, office space and GMP manufacturing.

CBRE’s Greg Grant arranged the five-year, floating rate, interest only, non-recourse loan on behalf of Instil Bio Inc, a clinical-stage biopharmaceutical company focused on developing innovative cell therapies in the fight against cancer. Andrew Riley and Jeff Pion, also with CBRE, facilitated Instil Bio’s original acquisition of the property in October 2020. With clinical manufacturing operational, the recent financing will support the completion of the commercial manufacturing facility.

“Los Angeles has continuously ranked among the top 10 life sciences markets given its world-class research institutions and access to skilled labor,” said Pion. “This property will serve as Instil Bio's global manufacturing headquarters, ultimately employing hundreds of scientists and research professionals at the location.”

A new analysis conducted by CBRE identifies the 25 top U.S. life sciences labor markets - ranging from established hotbeds like Boston to emerging hubs like Pittsburgh - illustrating that the fast-growing industry extends well beyond the usual handful of hubs.

The Los Angeles-Orange County region boasts the second-most annual graduates in biological and biomedical sciences in the U.S. - more than Boston-Cambridge or the San Francisco Bay Area and behind only New York-New Jersey. With more than 18,000 people employed as life sciences researchers, the Los Angeles-Orange County market also boasts the fifth-largest pool of life sciences research talent in the nation while VC funding has seen a 566% increase in the last five years compared with the national increase of 345%.

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