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12250 El Camino Real

Phase 3 Real Estate Partners Leases Lab Space At GENESIS-Del Mar For Biotech Companies In San Diego
LEASEDOffice

Phase 3 Real Estate Partners Leases Lab Space At GENESIS-Del Mar For Biotech Companies In San Diego

12250 El Camino Real

$51

$51/SF

Building Size

16,385 SF

Asset Type

Office

Closing

Jul 26, 2023

AI

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

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.

Players

Grant Schoneman

JLL

Broker

$15.9M

vol

6 deals

Broker
PP
Phase 3 Real Estate PartnersLandlord

Los Angeles 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

311039.22%

Cash-on-Cash

-88895.96%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93