Phase 3 Real Estate Partners, Inc has leased three spaces at GENESIS-Del Mar, a new 86,000 sq ft lab building located at 12250 El Camino Real in San Diego. The property offers flexible and high-quality facilities, catering to the needs of small biotech companies such as Mabwell Therapeutics, Genece Health, and Lygos. The lease transaction includes a total square footage of 16,385 at an asking rent of $51.87 per square foot.

Summary of transaction details

• Property Type: Office
• Transaction Amount: Not provided
• Address: 12250 El Camino Real, San Diego
• Market: San Diego
• Landlord: Phase 3 Real Estate Partners, Inc
• Tenant: Mabwell Therapeutics, Inc., Genece Health & Lygos, Inc.
• Landlord's Rep: Chad Urie, Grant Schoneman & Taylor DeBerry - JLL
• Tenant's Rep: Tristen Schneider & John Hundley - Kidder Mathews; Shane Poppen - Hughes Marino

This lease deal represents Phase 3 Real Estate Partners' support of small biotech companies' growth by providing them with suitable spaces to conduct their research and development activities. The building at GENESIS-Del Mar has attracted companies like Mabwell Therapeutics, Genece Health, and Lygos, which are focused on developing life-changing therapies.