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SAN DIEGO, CA-Suntree Garden LLC has secured a new tenant for its Fountain Plaza property, as biotech lab eBioscience has inked a five-year lease for R&D space here.

The new tenant has already moved into the facility, which stands at 6042 Cornerstone Ct., and is currently occupying 10,603 sf in Suites B-D. The recently signed lease is valued at $650,768.

eBioscience was represented by James Duncan and Mickey Morera of Burnham Real Estate Services ONCOR International. The same duo also spoke on behalf of Suntree Garden LLC.

The deal comes as the San Diego County’s R&D market is beginning to recover. This sector showed the greatest improvement in vacancy in second quarter 2002, according to research by Burnham Real Estate Services. The R&D vacancy level dropped from 12.1% to 10.8%, says the Burnham study, which adds that the second quarter net absorption was 452,545 sf. The decline in vacancy was also helped by the fact that there was just 134,400 sf added to the market.

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