March 16, 2016 Comments Off on $163M Biotech Deal Doubles Footprint in Torrey Pines Views: 699 California, California News, San Diego, West

$163M Biotech Deal Doubles Footprint in Torrey Pines

Boston-based Vertex Pharmaceuticals signed a $163-million lease to expand into a 170,000-square-foot build-to-suit development at 3215 Merryfield Row in Torrey Pines. The office and research facility is part of Pasadena-based Alexandria Real Estate Equities, Inc.’s new, two-building project at the Spectrum campus located within its San Diego life science cluster.

The new space, which is expected to be completed in the second half of next year, gives the global biotech firm room to accommodate up to 250 employees. Brokers involved in the deal say Vertex’s new building will be one of the “most architecturally significant life science buildings on the West Coast.”

Cushman & Wakefield’s Brian Starck and Dave Odmark represented Alexandria. Cushman & Wakefield’s Ted Lyon and Bill Fallon represented the tenant.

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