Chip Wright of CB Richard Ellis in Newport Beach tells GlobeSt.com that Oncotech formerly occupied about 30,000 sf in the building, which is at 15501 Red Hill Ave.

Wright represented Oncotech in lease negotiations, while Phil Cohen, also of CB's Newport Beach office of CB, represented the Landlord, 15501 Redhill LLC. Terms of the deal were not disclosed, but asking rates for space in the area are about $1.50 per sf per month, triple-net.

Wright says Oncotech had about six years left on its previous lease for the 30,000 sf in the building, but the company wanted to ensure that it will have room to expand because its business is growing.

The Ontoctech facility is a single-story, concrete tilt-up structure with about 11,000 sf of mezzanine office space. It was built in the late 1980s and is a free-standing structure in an area that includes a number of other buildings containing R&D, distribution and office space.

Oncotech provides testing services to more than 1,000 hospitals throughout the United States and Europe to assist doctors in the care and management of their cancer patients. The company's laboratory tests provide information that can be used to tailor treatment to the individual patient's cancer, based on the unique properties of the patient's particular cancer. This information enables doctors to choose the most effective drugs for treating the patient.