Life Science Company Leases 110K SF In Alameda
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A large oncology pharmaceutical company is headed to Alameda. Exelixis will lease 110K SF of office and research facilities in Alameda from Ascentris 105.
The lease term for facilities at 1851, 1801 and 1751 Harbor Bay Parkway is for 10 years and will begin on or around Feb. 1, 2018, according to documents submitted to the Securities and Exchange Commission. Exelixis, an oncology pharmaceutical company, will receive $5.5M for tenant improvements and a $1.2M additional allowance for updating the HVAC systems.
Rent will be $182,762/month for the first year and rise to $238,502/month by the 10th year. The tenant will have two consecutive five-year options to extend the lease term and has the right of first offer to lease additional space up to 170K SF as the space becomes available at 1601, 1701, 1751 and 1801 Harbor Bay Parkway.