News
San Diego Office

Details on Receptos' New HQ Lease

We got the skinny on Receptos' new HQ lease at Alexandria Real Estate Equities' Spectrum office complex, a 325k SF life sciences facility at 3033 Science Park Rd. The company inked a deal for 65,500 SF in December for 10 years at the former Titan Corp HQ. But according to an SEC filing, Receptos can terminate its lease after five and a half years, with some termination fees. It also has an option to extend the term of the lease by another five years, and has first rights of refusal on 40k SF in Spectrum. Receptos will pay $17.6M over the life of its lease, according to docs, with first year's rent at nearly $500k.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's San Diego Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

D.C. Sues To Block HUD Headquarters Move To Virginia

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject

Private Equity Firm Buys Former Texas Instruments Campus For New Headquarters

DFW Office Footprints Likely To Shrink As AI Use Increases And Companies Battle For Talent

Boston Waterfront Property Planned For Hotel Project Put Up For Sale