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1155 Island Avenue San Dieg...

Novoron Bioscience Leases 7,432 SF Space At GENESIS-San Diego For Neurological Research
LEASEDOffice

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

Grant Schoneman

JLL

Broker

$15.9M

vol

6 deals

Broker
PP
Phase 3 Real Estate PartnersLandlord

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