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9/21/22
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MP Biomedicals LLC acquired a 29.7k sf, industrial R&D-Flex facility in a recent $11 mil ($371/sf) transaction. The property was sold by Alexandria Real Estate Equities.
The property is located at 6 Thomas within Orange County’s Irvine Spectrum industrial submarket. Built in 1981, the free standing two-story multitenant R&D-Flex facility features glass and steel construction comprised of 50% office and 50% wet lab space with an extensive window line, and 3 per 1,000 square foot surface parking.
The property sits on 1.5 acres close to the University of California, Irvine (UCI), Irvine Spectrum Entertainment Center and U. S. Food & Drug Administration Regional Laboratory in Irvine. At the time of the sale the facility was delivered vacant. The new owner plans to occupy a portion of the building and lease out the remaining space to tenants in the life science/biomedical industry.
Steve Liu and Andrew Batcheller with NAI Capital Commercial represented the buyer in the transaction. Liu noted that the strength of the industrial market combined with the property’s location made this unique asset very desirable.
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