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Thursday, May 30, 2024

2023 Commercial Real Estate Awards: BEST OFFICE LEASE

VITAL STATISTICS
AGOURA HILLS BUSINESS PARK
30601 Agoura Rd., Agoura Hills
Square Footage: 77,000
Deal Value: $35 million

Founded in 2018, A2 Bio established its first facility in Westlake Village. A2 Bio is a leader in solid tumor cancer therapeutics and invented its Tmod technology to exploit the loss of genes in tumors that distinguish tumor from normal cells, addressing the key problem of cancer drug toxicity. In late 2018 A2 Bio relocated to Agoura Hills, opening its research facility at 30301 Agoura Road. A2 Bio selected Agoura Hills as the optimal location due to its proximity to the scientific community that has been established along the 101 corridor, and it is well, well situated to draw talented young scientists and research associates from the greater Los Angeles area.

In March 2020, A2 Bio opened a manufacturing facility at 30401 Agoura Road and within a year opened another facility at 30501 Agoura Road. Rick Pearson at Cushman & Wakefield has been A2 Bio’s real estate advisor / consultant from the beginning. In order to support its ongoing pipeline growth and support the advancement of their clinical programs, in 2021, A2 Bio started initial planning for a suitable facility in the same general area, which would eventually house its GMP manufacturing as for its Phase 2 trials and beyond. Following an extensive search and considering 4-5 potential sites, it was decided that the best facility was an adjacent building at 30601 Agoura Road. A2 has now occupied 77,000 square feet of the 118,000 square foot building.

Pearson has assisted A2 Bio with assembling the entire team of architects, designers, engineers and project management to build their existing facilities as well as this new facility. Possession of the new building was delivered in January 2023 with construction to begin soon. The new facility will be built out in three phases over the next two to three years.

VITAL STATISTICS
BRAND 801
801 North Brand Blvd., Glendale
Square Footage: 52,179
Deal Value: $19.8 million

The New York Life Insurance Lease represents a significant long-term commitment by the tenant to make Brand 801 its continued home, serving as its main Southern California headquarters. Despite many companies’ adoption of hybrid or work from home models, New York Life Insurance Company renewed its entire premises, the top two floors, complete with balconies and spectacular unobstructed 360 degrees views of downtown Glendale and the San Gabriel Mountains, citing the continued success of its team, its training center within the building, and optimal location and Class A+ amenities as key factors to their decision. The building’s amenities were further enhanced by the recent multimillion dollar lobby and plaza renovations.

 

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