SAN DIEGO-Medical device maker NuVasive Inc. has signed a $113 million, 15-year lease to relocate the company’s headquarters to 143,614 sf of class A office and R&D space at Veralliance Properties Inc.’s Sorrento Summit life sciences campus. The new lease will approximately double the amount of headquarters space occupied by NuVasive, which designs, develops and markets products for the surgical treatment of spine disorders.

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

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

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