Life Science: Great Promise & Rapid Growth
TOP VC-FUNDED COMPANIES (2018)
COMPANY
ROUND
MONEY RAISED
LEAD INVESTORS
Samumed
Series A
$438M
Starling Group, Vickers Ventures
Gossamer Bio
Series B
$230M
Polaris, Arch, Omega, Hillhouse
Rakuten Aspyrian
Series C
$150M
Rakuten
Gossamer Bio
Series A
$100M
Arch, Omega
IDEAYA Biosciences
Series B
$94M
6 Dimensions Capital, Biotechnology Value Fund, Nextech Invest, Perceptive Advisors
TP Therapeutics
Mezzanine
$80M
Foresite Capital, venBio Partners
Viacyte
Series D
$80M
Bain Capital Life Sciences
Cibus
Series C
$70M
Fidelity
Metacrine
Series C
$65M
venBio, Venrock, Polaris, NEA, Vivo
Source: PitchBook, Crunchbase
SUBMARKET STATS
AVG.ASKING RENT (NNN)
OVERALL INVENTORY (SF)
OVERALLVACANCY
Torrey Pines
$48.00-$54.00
5,845,283
15.6%
UTC
$48.00-$54.00
4,022,175
9.3%
Sorrento Mesa
$39.00-$46.20
4,997,491
11.7%
Sorrento Valley
$36.00-$42.00
1,596,352
11.3%
North County
$27.00-$33.00
1,699,243
1.1%
Other
N/A
754,967
4.6%
Total SD County
$34.20-$54.00
18,915,511
11.1%
NOTABLE LEASE TRANSACTIONS (2018)
TENANT
SF
LANDLORD
ADDRESS
SUBMARKET
LEASE TYPE
TriLink Biotechnologies
100,000
Bollert Lebeau
10770 Wateridge Cir
Sorrento Mesa
New
BD
78,000
HCP
11077 N Torrey Pines Rd
Torrey Pines
Renewal
Genopis
69,000
City Office REIT 10390 Pacific Center Ct
Sorrento Mesa
New
Samumed
74,000
Biomed Realty
9360 Town Centre Dr
UTC
New
Sorrento Therapeutics
61,000
HCP
4939 Directors Pl
Sorrento Mesa
Expansion
Cibus
53,000
HCP
6455-6465 Nancy Ridge Dr
Sorrento Mesa
Renewal
NOTABLE SALE TRANSACTIONS (2017 - 2018) ADDRESS SUBMARKET SF BUYER SELLER
PRICE CAP
TENANTS
9965/75/85/95 Summers Ridge Rd.
Sorrento Mesa Sorrento Mesa
247,000 Alexandria Real Estate
Quidel Corporation
$148.7M 8.2%
Abbott
Proforma
10770 Wateridge Cir.
181,000 Bollert Lebeau
John Hancock Life Insurance
$28.8M
N/A
None at time of sale. Subsequently leased to TriLink
10222 Barnes Canyon Rd.
Sorrento Mesa
82,000 TIAA-CREF Boller Lebeau $43.2M 6.50% Bollert Lebeau repositioned building to lab prior to selling. Invivoscribe is tenant.
6325 Lusk Blvd.
Sorrento Mesa
50,000 Bollert Lebeau
Bixby
$9.0M N/A
None at time of sale
Contributor: Alexa Kruthers, alexa.kruthers@cushwake.com; Jolanta Campion, jolanta.campion@cushwake.com; Jack Hughson (jack.hughson@cushwake.com) and Alex Tsurdinis (alex.tsurdinis@cushwake.com)
29
Made with FlippingBook Learn more on our blog