Stream Realty Negotiates Lease Renewal for Los Angeles Biotech Firm
- May 25, 2020
Stream Realty Partners has arranged a 35,453-square-foot lease renewal for biotechnology company Armata Pharmaceuticals at the Marina Business Center in Los Angeles. Senior Vice President Tim Dwight and Senior Associate Caleb Hodge facilitated the deal. The transaction represents the largest biotech office lease deal in West Los Angeles, thus far in 2020, according to Stream Realty.
The 280,000-square-foot Marina Business Center came online in 1982, comprises 43,000-square-foot floorplates and features 1,260 parking spaces. According to Yardi Matrix data, the property last traded in 2003, when Hankey Investment Co. paid $42.5 million for it.
Located at 13160 Mindanao Way on approximately 12 acres, the four-building property is part of the Silicon Beach submarket, which is home to Tesla, Sony and Knotel, among others. The surrounding area has several dining options and the Marina is 2 miles from the property. The asset is also 5 miles from Los Angeles International Airport.