While many cash-flush biotechs target new, higher-priced complexes on the Peninsula, Exelixis Inc. is going the other direction.
The longtime cancer drug developer signed a 10-year lease for 110,783 square feet in two buildings in the 20-year-old Waterfront complex in Alameda. It has a right to grab an additional 170,000 square feet as it becomes available.
The deal works out to about $20 per square foot in base rent in the first year, plus up to $6.7 million that landlord Ascentris will provide…
While many cash-flush biotechs target new, higher-priced complexes on the Peninsula, Exelixis Inc. is going the other direction.
The longtime cancer drug developer signed a 10-year lease for 110,783 square feet in two buildings in the 20-year-old Waterfront complex in Alameda. It has a right to grab an additional 170,000 square feet as it becomes available.
The deal works out to about $20 per square foot in base rent in the first year, plus up to $6.7 million that landlord Ascentris will provide…