The greater Los Angeles area isn't known for being a life science center like San Diego or Boston, but a lease with a growing biotech company shows that these types of companies are interested in expanding here.
A2 Biotherapeutics, an Agoura Hills-based firm developing tumor treatments, leased roughly 77,000 square feet at 30601 Agoura Road. in Agoura Hills, a city northwest of downtown Los Angeles. The lease won a CoStar Impact Award for lease of the year in Los Angeles after being selected by a panel of local industry professionals.
The lease solidified the city and the larger Conejo Valley as a growing life science hub in greater Los Angeles. The life science market is seen as a driver of demand for office space both in greater L.A. and across the U.S. The deal also brings more high-paying jobs to the area, which drives growth in the surrounding community.
About the Project: A2 Biotherapeutics plans to occupy 77,000 square feet of the 118,000-square-foot building at 30601 Agoura Road in Agoura Hills, a city that has seen an influx of life science users in recent years. The company took possession of the building this year and construction is underway on the new office.
What the Judges Said: "The L.A. metro has traditionally been overlooked as a life science market relative to the Bay Area and San Diego. The continued expansion [of life science firms] into new markets will propel life science growth in Los Angeles," said Marc Rasmussen, director of investments for Link Logistics Real Estate.
They Made It Happen: Rick Pearson and Lindy Pearson of Cushman & Wakefield advised A2 Biotherapeutics. CBRE's Tom Dwyer and Caroline Bigelow represented the building ownership.
