SANTA CLARA, CA-Biopharmaceutical company XenoPort has expanded its headquarters leasehold here by more by more than 55% and extended the lease terms through 2013. The lease rates for the expansion and the extension are well below its original lease agreement. The transactions add about $11 million to the biopharmaceutical company’s lease obligation, which now totals about $27 million, according to an SEC filing by the company.

XenoPort occupies 102,759 sf at 3410 Central Expressway under a 10-year lease it signed in September 2001. At the end of February, it extended that lease by two years, to Dec. 1, 2013, and agreed to lease an additional 58,744 sf at 3400 Central Expressway for 60 months beginning in December 2008, according to the SEC filing.

The cost of the new 58,744-sf lease is approximately $6.14 million, which translates to an average annual lease rate of $20.90 per sf. The cost of the two-year extension of its original leasehold is $4.72 million, or $22.96 per sf. The current lease rate for its original 102,759-sf lease is $37.64 per sf per year and will top out at $41.40 per sf before its original end date of Dec. 1, 2011.

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