NEWARK, CA-BioMed Realty Trust Inc. has signed up another significant tenant for Pacific Research Center, the 1.4 million-sf former Sun Microsystems campus here that it is repositioning as a multi-tenant research campus. The life science REIT is now 40% of the way toward its goal of having the campus one-third preleased by the end of the year, 12 months ahead of the scheduled completion date.

The latest tenant is Revance Therapeutics Inc., a specialty pharmaceutical company focused on the development and commercialization of products for the aesthetic medicine and personal wellness categories. The company has agreed to lease approximately 90,000 sf on a long-term basis. It will relocate to the building from 2400 Bayshore Parkway in Mountain View, CA.

In December, Risk Management Solutions, which provides catastrophic risk assessment for the insurance industry, signed a 12-year headquarters lease for 103,000 sf. The lease is for twice as much space as its current Newark headquarters lease at Bridgeway Technology Center, which expires in late 2010. Its lease rate there will average $46.28 over the remainder of the lease, according to SEC filings.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.