San Diego –– CBRE has announced that Mainstay Medical, a Dublin, Ireland-based medical device company, has signed a 23,136 square-foot lease in the Little Italy neighborhood of Downtown San Diego for its new U.S. corporate headquarters. Mainstay Medical will become the first life science firm to relocate to Downtown San Diego.
Evan Knudson and Michael Peterson of CBRE represented the landlord, local real estate firm H.G. Fenton Company, in the transaction.
Mainstay Medical will occupy space at 2171 India Street, part of a project featuring a mix of office, retail and dining tenants. The property sits just west of I-5 and is within walking distance of dozens of San Diego’s most popular dining, retail and entertainment destinations. Mainstay Medical plans to perform both office and medical device operations out of this location.
“This is a landmark deal for Downtown San Diego that builds on the momentum of recent large-scale investments in the life science space by IQHQ and Phase 3,” said Mr. Knudson. “Mainstay Medical’s new US headquarters in Little Italy was chosen for its European and urban feel, walkable amenities and close proximity to the airport and mass transit.”
Mr. Peterson added, “While San Diego County has long been known for the strength of its life science industry, these firms have never before entered the Downtown San Diego submarket. Mainstay Medical will be the first of many life science firms to enjoy all of the amenities that Downtown and Little Italy have to offer.”
He added, “H.G. Fenton understood Mainstay’s vision and capitalized on the opportunity of this burgeoning product type. This is a fantastic outcome from a market-leading ownership group that has cultivated the growth of Little Italy. From the development of Piazza della Famiglia to this first-to-market life science use, H.G. Fenton continues to add value to the vibrant Little Italy neighborhood.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About H.G. Fenton Company
H.G. Fenton Company, a family-owned San Diego real estate company, has proudly entered its second century of service providing quality working and living experiences through responsible development and management practices. H.G. Fenton Company creates lifestyle opportunities where employees flourish, residents live well, and businesses succeed for over 1,100 businesses, and across 17 apartment communities totaling over 3,500 homes in San Diego County. Learn more at www.hgfenton.com.
