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.