Pharm Co. Signs $1-Mil Lease in Popular University Town Centre

SAN DIEGO-A biotechnology firm that is developing drugs that fight cancer has signed a $1-million lease for space in the increasingly popular University Towne Centre area.

Maxim Pharmaceuticals, which is developing a new generation of drugs, therapies and vaccines for cancer, infectious diseases and topical disorders, signed a five-year lease for 5,174 sf at 8899 University Center Lane.

Total consideration for the lease was $1.05 million. The office building is within walking distance of the Hyatt Regency Hotel and the UTC Mall.

In January 1999, SPP Real Estate purchased the building from British Pacific Properties for $18.3 million.Steve Holland of CB Richard Ellis and Neil Fox of Phase 3 Properties represented Maxim Pharmaceuticals, while Steve Wolf of Burnham Real Estate Service represented SPP Real Estate in the transaction.