Amira Pharmaceuticals Leases 28,100-SF Lab Space

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SORRENTO MESA, CA-The local lab and R&D sector continues to pick up steam with firms looking to lock into leases for the mid- and long-term. The latest deal comes from a newly formed company, Amira Pharmaceuticals. The company specializes in treatment research for inflammatory diseases.The firm agreed to a 66-month lease for 28,100 sf of lab space. Financial terms on the deal were not available. Veralliance Properties is the property’s landlord and brought Amira in after a major rehab of the 50,500-sf Waples Research Center.”Amira Pharmaceuticals is an exciting new company that is pioneering significant drug research for the treatment of inflammatory disease,” says Dan Ryan, president of Veralliance Properties. “The company is growing quickly and we are pleased that our project meets its immediate and future space needs.”BMR-VPI 9535 Waples LLC, a venture of Veralliance Properties and BioMed Realty LP, acquired the research center last April. After the acquisition, Veralliance oversaw a major renovation of the property. Upgrades include improvements to the two-story lobby as well as lab work for chemistry and biology specific areas.According to Ryan, the firm was able to meet specific build-to-suit tenant requirements. He says these renovations include a specialized air system required by Amira.Veralliance has been aggressively building up its portfolio in the Sorrento Mesa area. Last month, the firm acquired an office and lab portfolio from EOP-Industrial Portfolio LLC. In the deal, Veralliance acquired Pacific Corporate Park, a 105,000-sf, two-building campus located at 6175 and 6195 Lusk Blvd. for $20 million.It also purchased Westridge I, a 53,326-sf, two-building project located at 6455 and 6465 Nancy Ridge Dr., for $10.5 million. With these acquisitions, Veralliance now owns and manages over 750,000 sf of office, R&D and biotech space throughout San Diego County.”Pacific Corporate Center and Westridge met our criteria for location and market positioning,” Ryan says. He adds that the two projects are leased to major tenants including Sangart Inc., Staccato Communications and La Jolla Pharmaceuticals.