Los Angeles -– CBRE announced Apex Innovative Sciences, Inc., an independent operator of clinical trial sites focused on central nervous system indications, signed a new lease for 30,962 square feet at Los Alamitos Medical Center in Los Alamitos, Calif.
CBRE’s Sonya Dopp-Grech, Steven Lewallen and Ryan Dopp represented the landlord, Welltower, in the transaction. Welltower is a Real Estate Investment Trust specializing in medical real estate.
Apex signed an approximate 12.5-year lease at the three-story property, located at 3771 Katella Ave. It sits within a hospital campus, centrally located in the City of Los Alamitos with easy freeway access to Interstate 405 and 605 and State Route 22. Other tenants at the property, which is managed by Welltower, include Tenet Healthcare, Coast Urological Medical Group and Retina Consultants.
“Bringing in Apex pushed the occupancy at the building to 100 percent,” said Dopp-Grech. “Demand was strong for this space, which sits within a fully integrated healthcare complex and network of providers.”
Medical office and lab space is a hot commodity in the region and across the U.S. Demand for new life sciences lab space is outpacing speculative construction in the top 12 U.S. life sciences hubs as the industry rapidly expands amid a global race for new drug development, according to a new report from CBRE. With the U.S. vacancy rate for existing lab and research development space at a record low of 4.9 percent, average asking rents are skyrocketing in the top 12 markets, jumping 7.5 percent in September compared to March 2021.
