AnaBios Leases Office Space In GENESIS-San Diego With JLL And Newmark Reps
1155 Island Avenue
Building Size
20,000 SF
Asset Type
Office
Closing
Mar 13, 2024
AI
The office property located at 1155 Island Avenue in San Diego was involved in a lease transaction. The property spans 20,000 square feet and serves as a part of the growing life science hub in downtown San Diego. The landlord, Neil Fox of Phase 3 Real Estate Partners, Inc, secured a new lease with AnaBios, a company offering high-quality human tissue and cell research services.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Neil Fox - Phase 3 Real Estate Partners, Inc
- Tenant: Andre Ghetti - AnaBios
- Landlord's Rep: Chad Urie, Grant Schoneman & Taylor DeBerry - JLL
- Tenant's Rep: John Hundley & Jon Engle - Newmark
Phase 3 Real Estate Partners' announcement of AnaBios' lease in GENESIS-San Diego signifies the continued growth of downtown as a center for life science activities. This move further solidifies the building's standing, now at 50% occupancy, by attracting cutting-edge firms specializing in human tissue and cell research services.
Players
San Diego Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93