Novoron Bioscience Leases 7,432 SF Space At GENESIS-San Diego For Neurological Research
1155 Island Avenue San Diego, California 92101, USA
Building Size
7,432 SF
Asset Type
Office
Closing
Jun 20, 2023
AI
Novoron Bioscience has signed a lease for a 7,432-square-foot space at the GENESIS-San Diego life science building in Downtown San Diego. The cutting-edge facility owned by Phase 3 Real Estate Partners, Inc. has attracted several forward-thinking life science companies. Novoron Bioscience will utilize the space to advance its research on neurological conditions.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1155 Island Avenue, San Diego
- Market: San Diego
- Asset Type: Office
- Square footage: 7,432
Chad Urie, Grant Schoneman, Taylor DeBerry, and John Hundley represented Phase 3 Real Estate Partners, Inc. as the landlord's representatives. Jon Engle represented Novoron Bioscience as the tenant's representative in the lease deal.
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