New life science leases signed at GENESIS-Del Mar
JLL represented Phase 3 Real Estate Partners in leases to Genece Health, Mabwell Therapeutics and Lygos at newly converted life science building in San Diego
SAN DIEGO, CALIF., July 25, 2023 – With continued growth of small and growing biotech companies in San Diego, Phase 3 Real Estate Partners, Inc. has proudly announced three new leases at GENESIS-Del Mar, a newly converted 86,000-square-foot lab building located at 12250 El Camino Real in the Del Mar Heights submarket of San Diego, California.
JLL’s Chad Urie, Grant Schoneman and Taylor DeBerry represented the landlord, Phase 3 Real Estate Partners, in the three leases at GENESIS-Del Mar. The Class-A lab building offers suites ranging from 4,000 to 12,000 square feet and gives early-stage biotech companies a facility that provides the flexibility, quality, and support needed to succeed in their mission of delivering life-changing therapies to patients. These new biotech companies include:
- Mabwell Therapeutics, Inc., a biotechnology company focusing on the discovery and development of antibody and protein-based drugs in multiple therapeutic areas, signed a 6,722-square-foot lease. Mabwell Therapeutics was represented by Tristen Schneider and John Hundley of Kidder Mathews.
- Genece Health, a company combining artificial intelligence with whole genome sequencing for early detection of cancer from blood samples (liquid biopsy), signed a 5,152-square-foot lease. Genece Health was represented by Shane Poppen of Hughes Marino.
- Lygos, Inc., a pioneering sustainable specialty chemicals company, leading the world’s transition toward better, cleaner, and more sustainable products, signed a 4,511-square-foot lease. Lygos, Inc. was represented by Shane Poppen of Hughes Marino.
"San Diego’s core life science cluster lacks incubator and graduate-sized lab space, especially in the burgeoning Del Mar Heights submarket,” said Taylor DeBerry, JLL Senior Associate. “GENESIS-Del Mar fills that void and is designed specifically for small and growing biotech companies who are in need of immediate, turn-key space.”
Phase 3 Real Estate Partners Inc. completed the Genesis-Del Mar life science conversion in June 2023, bringing brand-new, robust MEP infrastructure, premier finishes and efficient and thoughtful designs to the market. The building is conveniently located, with easy access to the I-5 and SR-56 freeways and the many shops and restaurants of One Paseo and Del Mar Highlands shopping center. Learn more at www.genesis-delmar.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Phase 3 Real Estate Partners
Phase 3 Real Estate Partners, Inc., ("Phase 3") develops premier ready to occupy research and development facilities in the major innovation clusters of the United States. Phase 3's focus on delivering the highest quality space with accelerated speed to occupancy within these key geographies allows companies to immediately pursue their scientific goals. The Phase 3 team delivers a clean, modern design aesthetic, the right combination of amenities to create community and appropriate infrastructure to meet the needs of the companies who call our facilities home. The firm's expertise in development, construction and management of life science facilities results in a strong partnership between our tenants and our team. Phase 3's current portfolio consists of nearly 4.5 million square feet and is growing in San Diego, San Francisco and Boston. For more information, visit www.P3RE.com.