Updated Dec 4, 2024
Alexandria Real Estate Equities Leases 99,557 SF Office Space To CARGO Therapeutics
835 Industrial Road
Building Size
99,557 SF
Asset Type
Office
Closing
Dec 14, 2023
About this deal
AI
Alexandria Real Estate Equities, Inc has signed a long-term lease with CARGO Therapeutics for 99,557 square feet at 835 Industrial Road in San Carlos. The office property is located on the San Carlos campus and will be occupied by CARGO Therapeutics by early 2024.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not mentioned in CONTEXT
- Address: 835 Industrial Road, San Carlos
- Market: San Carlos
- Square Footage: 99,557
CARGO Therapeutics, a biotech company that recently raised $291 million in its IPO, will be the tenant in the leased space. Gina Simmons Chapman, the representative for CARGO Therapeutics, negotiated the lease with Joel S. Marcus, the representative for Alexandria Real Estate Equities, Inc.
On the Map
Office
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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