San Diego, CA – February 18, 2021 – State of the art low-rise suburban buildings geared toward lab and other research uses continue to attract strong tenant interest in the San Diego market.
Drawbridge Realty recently leased 6650 Nancy Ridge Drive, a 24,200 s.f. office and lab building in San Diego’s Sorrento Mesa life science cluster, to LumiraDX. The London, England-based medical diagnostics firm signed a 66-month lease.
“LumiraDX is one of the many companies doing important work in the fight against COVID-19 and we’re delighted to welcome them to our building at Nancy Ridge Drive,” said Chris Elmendorf, SVP-Investments, Drawbridge Realty.
Earlier this year, LumiraDX received authorization from the FDA under the Emergency Use Authorization for its SARS-CoV-2 antigen detection test. The firm also has a U.S. office in Waltham, Mass.
Built in 1998 on 1.4 acres, Drawbridge acquired the two-story building in 2012 and repositioned the asset for life science research tenancy.
Simon Terry-Lloyd and David Ross of CRESA represented LumiraDX. Chad Urie and Grant Schoneman of JLL represented Drawbridge Realty in the lease negotiations.
“The San Diego life sciences market continues to flourish. This is a great case study on the reusability of well thought out and designed laboratory space. This is the second time we have been successful with companies like LumiraDx choosing the asset to support ongoing R&D and growth,” Schoneman said.
About Drawbridge Realty:
Drawbridge Realty is a San Francisco-based real estate investment and development company that targets commercial property investments in growth markets across the U.S. Its portfolio primarily consists of office properties leased long-term to large corporations with an emphasis on strategically important locations. Drawbridge has a long history of successfully creating value for corporate clients and investors and has completed transactions with companies including Bayer, Broadcom, IBM, Google, Johnson & Johnson, L3Harris Technologies, Lockheed Martin, Medtronic, NI, and Northrop Grumman. The current Drawbridge portfolio is comprised of over 5 million square feet located in growth markets across the United States.
