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Case Study

Coast9

Coast9

​Coast9 is Sorrento Valley’s premier life science campus, offering a Class “A” research environment to San Diego’s leading biotech companies. Renovated in 2012, the nine building campus successfully integrates people, technology and space to produce an exceptionally satisfying workplace.

Challenge

  • Biomed purchased an antiquated life science campus that consisted of nine buildings and totaled 164,000 square feet.
  • The entire campus had deferred maintenance issues and was older vintage lab space.
  • The largest tenant in the campus, 28,000 SF, moved out of the campus shortly after Biomed completed its acquisition

 

What did we do?

JLL worked with Biomed to completely transform the campus, which included new exterior renovation of the entire campus, new interior tenant improvements of the vacant space and the creation of a live/work/play environment through a new amenities center located within the campus.

Results

  • JLL brought the 164,000 square foot multi-tenant life science campus from 40% occupancy to 100% occupancy in less than 3 years
  • Completed 15 new lease transactions, ranging from 2,700 SF to 20,000 SF
  • Effective rental rates have increased from $2.16 to $2.85 - a 32% increase during the lease-up period
    Coast9 is now viewed as Sorrento Valley’s premier life science campus

 

11080-11180 Roselle Street,
11055-11175 Flintkote Avenue,
San Diego, CA 92121
Building classA
Landlord/ownerBioMed Realty Trust
Size (s.f.)164,000
Services provided:Agency Leasing

 

JLL Team

Chad Urie
Managing Director
+1 858 410 1187
chad.urier@am.jll.com

Grant Schoneman
Vice President
+1 858 410 1252
grant.schoneman@am.jll.com

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