According to Daniel J. Ryan, principal with San Diego-basedVeralliance, NuVasive will occupy the 143,614 sf in two existingbuildings at 7473 Lusk Blvd. (71,112 sf) and at 7475 Lusk Blvd.(72,502 sf). NuVasive also has options to lease additional space ina third building that will begin construction in January 2009 andadd approximately 125,000 sf to the Sorrento Summit campus.

NuVasive will pay base rent of $2.43 per sf, escalating at anannual rate of 3% over the 15-year period of the lease, accordingto public filings by the company, which is listed on Nasdaq.Relocation to the new facility is expected to be completed inphases in the first and second quarters of this year.

NuVasive says that the agreement with Veraillance provides forfacility expansion rights to an aggregate of more than 300,000leased sf, under terms of which the medical technology company isrequired to make minimum lease payments, including operatingexpenses, of $2.4 million in 2008, $6.1 million in 2009, $6.4million in 2010, $6.6 million in 2011, $6.8 million in 2012 and$84.9 million thereafter for a total of $113.2 million over the15-year period.

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