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SANTA CLARITA, CA-Not unlike the Six Million Dollar Man, medical-device company Advanced Bionics is flexing its muscles–its financial muscles–as it agrees to a long-term lease and a major build-to-suit development. The combined lease and development deal are estimated at $51 million.Advanced Bionics, a wholly owned subsidiary of Boston Scientific Corp., will fill an existing 57,000-sf warehouse for 15 years as well as agreeing to terms on a 182,000-sf manufacturing and office building. The new development is set for a summer 2006 completion date.Besides those agreements, Advanced stipulated the flexibility to expand an additional 285,000 sf at a later date to accommodate for future growth projections, according to Tom Turley, a principal with The Staubach Co. “Their projections had them outgrowing their current facilities (in Santa Clarita and Sylmar) by 2006 or 2007,” Turley tells Globest.com.The Staubach team of Turley, Michael Siteman, Scott Flanagin and Sean Westgate represented Advanced Bionics while Jim Linn, Nigel Stout and Lance Kawasaki with Grubb and Ellis represented the landlord, Mann Biomedical Park.According to Turley, the property was formerly Lockheed Martin space, but was sold to Legacy in the mid-90s, who in turn sold it to billionaire inventor and entrepreneur Alfred Mann a few years ago. For Mann, bringing Advanced Bionics into the fold is a coming home of sorts. He sold the company, which manufactures electronic hearing devices, to Boston Scientific in 2004 for $4.1 billion.As for the business park, Turley says it has a dozen buildings and 15 tenants currently, with some of the space occasionally used as sets by movie studios. “Right now it’s a mishmash of space and uses,” Turley says. But with the proper master plan in place, “it has potential.”

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