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9/30/22
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MP Biomedicals LLC paid $11 mil for a 28.8k sf ($382/sf) life sciences building in the Irvine Spectrum. The building is situated on an approximate 1.5-acre parcel at 6 Thomas, in close proximity to many other life science companies.
The facility was converted from a light manufacturing building to a lab in 2005 and was leased to several life science tenants over the years, including Eagle Pharmaceuticals, Enevate Corporation, BIT Group and Planet Innovation.
CBRE’s Ross Bourne and Chip Wright represented the seller in the off-market transaction. According to CBRE research, a variety of megatrends (demographic, academic, economic, technological and investment) have boosted Orange County’s life sciences growth over the last decade.
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