Los Angeles, CA – Avison Young announced today it has negotiated a 49,017-square-foot lab/office lease on behalf of Terray Therapeutics, Inc. located within the Monrovia Technology Campus at 750 and 800 Royal Oaks Drive in Monrovia, CA. Terray Therapeutics, a biotechnology company propelling drug discovery into the information age, will occupy 37,823 square feet (sf) of lab space and 11,194 sf of office space. The lease marks another landmark biotech transaction in the greater Los Angeles region.
Avison Young Principal Ted Simpson who is out of the firm’s downtown Los Angeles office, represented the tenant. The landlord, Samuelson & Fetter LLC was represented by Shadd Walker with Colliers.
Terray Therapeutics will be relocating from its 7,500-sf space within the Alexandria Innovation Center in Pasadena. It will move into its new office space (just nine miles away) in August, 2022 and will occupy the lab space in early 2023.
“We are pleased to have successfully identified and negotiated an ideal lease on behalf of Terray Therapeutics,” said Simpson. “Lab space brings with it a significant number of intricacies and requirements and we were able to find a strategic fit at the Monrovia Technology Center.”
“This new space is the next step in our mission to propel drug discovery into the information age to bridge the gap between discovery and treatment,” said Jacob Berlin, PhD, Chief Executive Officer of Terray Therapeutics. “Building on the momentum of our recent $60 million Series A financing, our dedicated laboratory and office space will support our growing team, expand our discovery capabilities and further accelerate our generation of premium chemical data at unrivaled scale.”
Simpson, who has executed more than one million sf of biotech leases on a national basis, added, “Our client wanted to stay within the San Gabriel Valley submarket which is a hub for biotech and healthcare in the greater Los Angeles region. We believe this area will continue to see expansion in the biotech sector as it offers an abundance of low-rise product with big floor plates and research institutions that feed talent into these high growth companies working at the forefront of innovation.”
Terray Therapeutics is an emerging biotechnology company led by pioneers and long-time leaders in AI, medicinal chemistry, biology and preclinical development, automation, and nanotechnology to propel drug discovery into the information age. Terray’s proprietary integrated computational and experimental platforms generate massively scaled, powerfully agnostic chemical data that are purpose-built to power computational learning and reveal new interactions. This foundation is building an iterative, flexible chemistry engine that aims to deliver more precise therapies to patients faster than ever before.
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