Capital Markets | Healthcare & Life Sciences
Just Financed
State-of-the-Art Life Sciences Campus 100% Build-to-Suit
CBRE
Transaction Highlights
Construction Facility: $136 Million
Date Closed: 11/29/2023
Total Size: 164,757 SF
Tenant Occupancy: 100%
Ionis Carlsbad Build-to-Suit | Carlsbad, CA
CBRE U.S. Healthcare Capital Markets is pleased to announce the financing of Ionis Carlsbad Build-to-Suit (the “Property”), located in Carlsbad, CA. Zack Holderman and Jesse Greshin partnered with CBRE Global Institutional Debt Advisory’s James Millon, Adam Spengler and Henry Fenmore to secure the construction financing.
The Ionis Carlsbad Build-to-Suit is a 164,757 square foot, purpose-built, state-of-the-art life sciences facility (the “Property”, “Development”, “Phase II”) which, upon completion, will be 100% leased to Ionis Pharmaceuticals (NASDAQ: IONS) (“Ionis” or the “Tenant”). The asset is located adjacent to Ionis’ global headquarters (“Ionis HQ”, Phase I”, “Campus”) in Carlsbad, CA, which was purchased by Sponsorship in October 2022.
The Development will be built to LEED Gold certification standards, will contain three (3) stories of lab/office space and will have a separate parking garage structure. DGA has been retained as the architect and BNBuilders will serve as the construction manager.
Ionis has occupied the main campus as its global headquarters since 2011. Founded in 1989, Ionis Pharmaceuticals specializes in discovering and developing RNA-targeted therapeutics and has three (3) currently approved medicines, including its prime revenue source Spinraza, as well as a strong cardiovascular and neurology pipeline. The Campus is located in Carlsbad, which is in the North County submarket of San Diego, California. San Diego is the 10th largest metro economy and the 3rd largest life sciences market nationally, with over 23 million SF of lab inventory and 1,300+ life sciences companies.
For more information, or if we can help with your healthcare real estate holdings, please contact us.
For more information, please contact:
Zack Holderman
Senior Vice President
Debt & Structured Finance
+1 858 337 9412
Jesse Greshin
Vice President
Debt & Structured Finance
+1 860 808 4810
Chris Bodnar
Vice Chairman and Managing Director
Investment Properties
+1 720 635 2653
Trent Jemmett
Senior Director
Investment Properties
+1 858 646 4740
Cole Reethof
Director
Investment Properties
+1 404 504 7864
James Millon
Vice Chairman
Global Institutional Debt Advisory
+1 212 984 8041
Tom Traynor
Vice Chairman
Global Institutional Debt Advisory
+1 212 984 8043
Adam Spengler
Vice President
Global Institutional Debt Advisory
+1 212 656 0587
Henry Fenmore
Associate
Global Institutional Debt Advisory
+1 212 984 7160
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
