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Jazz Pharmaceuticals, Stanford University Make Music Once Again in Palo Alto

Irish Biopharmaceutical Company Completes Second Deal with University for Spec Space on Porter Dr.
October 10, 2017
Jazz Pharmaceuticals (NYSE: JAZZ) made a little noise in Palo Alto after the Ireland-based biopharmaceutical company signed a lease with Stanford University to fully occupy a planned 99,415-square-foot office project set to break ground later this year at 3181 Porter Dr.

The lease comes a little more than two years after Jazz Pharmaceuticals and Stanford University entered into a similar agreement for the 96,750-square-foot flex building currently under construction down the street at 3170 Porter Dr. That building is scheduled to deliver by year-end.

Jazz will pay $6.20 per square foot for its location at 3181 Porter Dr. The company, which agreed to a 12-year term with two five-year renewal options, is tentatively scheduled to take occupancy by the end of 2019.

Mike Connor, David Hiebert and Ben Paul of Cushman & Wakefield negotiated the lease on behalf of Stanford University, while George Fox of CBRE brokered the deal for Jazz Pharmaceuticals.
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