Transaction continues ongoing Life Sciences/Biotech growth at project and within market;
DermTech also expands within the DMCC campus
SAN DIEGO, Calif., – June 15, 2022 – Cushman & Wakefield announced that Halozyme Therapeutics, a biopharmaceutical company bringing disruptive solutions to significantly improve patient experiences and outcomes for emerging and established therapies, has leased 72,534 square feet of Class A space at the Del Mar Corporate Centre for its new corporate headquarters in Del Mar Heights (San Diego), California. Halozyme will be relocating and consolidating from three different buildings it currently occupies in nearby Sorrento Valley.
Executive Managing Director David Odmark with Cushman & Wakefield’s San Diego office, and member of the firm’s National Life Science Tenant Representation Group, represented the tenant in the transaction. Halozyme’s new headquarters will be located at 12390 El Camino Real, known as Del Mar Corporate Centre I.
Owned by Kilroy Realty, Del Mar Corporate Centre (DMCC) is a three-building Class A campus in San Diego’s Del Mar Heights neighborhood featuring well-appointed design, beautiful common areas and outdoor lounges, and a prime, prominent presence. DMCC is surrounded by world-class shopping and dining, including Kilroy’s One Paseo and is near many of San Diego’s top neighborhoods. The campus also has excellent visibility and accessibility from Interstate 5.
Notably, DermTech, Inc., a leader in precision dermatology enabled by a non-invasive skin genomics platform, also recently signed a lease to expand its corporate headquarters at the DMCC to a total of approximately 110,000 sf. DermTech had initially signed a lease for 95,997 sf at the project last summer, before the expansion. The company is relocating from Torrey Pines. Odmark also represented DermTech in its transaction(s).
“Each of these deals were very complex and without the experience and skill of a sophisticated owner like Kilroy Realty, they probably wouldn’t have happened,” said Odmark. “While DMCC was not originally designed to support life science uses, Kilroy has committed these buildings to their redevelopment program, underscoring the swift rise of Del Mar Heights as a prime life science hub.”
Halozyme and DermTech both signed long-term leases at DMCC and are expected to take occupancy by the end of 2022.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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