Cresa Represents Biotech Innovator, REGENXBIO, for New Corporate Headquarters
Cresa, the world’s largest occupier-centric commercial real estate firm, and REGENXBIO Inc., a leading clinical-stage biotechnology company seeking to improve lives through the curative potential of gene therapy, recently announced a long-term lease agreement for REGENXBIO’s new headquarters at 9800 Medical Center Drive with landlord Alexandria Real Estate Equities Inc., a California-based real estate investment trust with a focus on life sciences and tech campuses.
The transaction closed in November 2018 and was led by the Cresa team, including Managing Principal, Rich Rhodes, and Senior Advisor, Lauren Rizzo, with assistance from Cresa’s Lease Forensics team members, Principal, Lease Audit, Mike Hetchkop, and Senior Financial Analyst, Lease Audit, Evan Solomon. REGENXBIO's new office will sit at almost four floors totaling 132,000 square feet of the 177,000 square foot building, with potential for expansion into the remainder of the facility.
Oversight of the expansion has been led by Kathy Thomas, Managing Principal, Project Management. The office location is part of a 460,000-square-foot campus known as the Alexandria Life Science and Translational Research Center, aimed at biotech and research entities, including current tenants National Center for Advancing Translational Sciences, Advanced BioScience Laboratories Inc., BioReliance Corp., Sanaria Inc. and The Stanley Medical Research Institute.
“REGENXBIO presented Cresa with a unique challenge of wanting to consolidate several locations while still allowing for room to continue to grow,” said Rhodes. “Under close collaboration with the REGENXBIO team, we were able to utilize a variety of integrated services including Transaction Management, Project Management, Workplace Strategy and Lease Forensics/Auditing to identify a location that would meet their current, and future, goals as a thriving biotechnology company.”
The new headquarters will house REGENXBIO’s corporate and research and development activities. The Alexandria Life Science and Translational Research Center location will help the company grow under one roof while supporting its mission as a public company whose therapy has been groundbreaking for the treatment of retinal, metabolic and neurodegenerative diseases.
As the Washington, DC metropolitan area continues to see significant real estate investment, Cresa is assisting companies across sectors make smart, scalable, real estate decisions. With over 100+ offices worldwide and new locations locally in Orange County and Silicon Valley as well as globally in Poland, Spain and Beijing, the company continues to see significant growth with over 1,700 clients across 59 industries in 891 cities globally. For more information, please visit http://www.cresa.com.
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