Biopharmaceutical Firm Moves to Sunnyvale

SUNNYVALE, CA-A biopharmaceutical company has signed a lease with the Irvine Co. to occupy 140,000-sf at 985 Almador Avenue in Sunnyvale. The specifics of the deal were not immediately available. Rents in Sunnyvale average around $21 per sf, annually, triple net for this type of space.

Hyseq will expand into a free-standing, partial two-story building next door to the company’s corporate headquarters at 670 Almador, where it will continue to occupy 60,000-sf. Hyseq is currently renovating the space for R&D, with a move-in date projected for 2002.

The company was represented by CRESA Partners, which recently negotiated Bay Area leases for biotech companies, including XenoPort, Aerogen and Perlegen. Mark Moser was the agent who negotiated the lease.

Hyseq, a public company, uses genomics, the study of genes and their functions, to develop pharmaceuticals. Insignia ESG represented the building owner.