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Ligand Pharmaceuticals Signs Lease in Torrey Pines

Ligand Pharmaceuticals signed an 84-month lease valued at $3.9 million for office and laboratory space in Torrey Pines.

Ligand Pharmaceuticals signed a lease for 16,500 square feet of office and laboratory space at Arenisca in Torrey Pines. Cassidy Turley BRE Commercial announced the 84-month lease valued at $3.9 million on Tuesday

Cassidy Turley BRE Commercial reported that Ligand, a biotechnology company, was the first least signed at Arenisca, a 72,419-square-foot office and laboratory building on the 11,000 block of North Torrey Pines Road. The three-story building, which is across from , is currently under construction. Completion is scheduled for July 2012. Ligand will move into the new space when the office building is complete.

According to its web site, Ligand, whose NASDAQ symbol is LGND, has multiple alliances with pharmaceutical companies including AstraZeneca, Bristol-Myers Squibb, GlaxoSmithKline, Merck and Pfizer.

Brian Starck, Jerry Keeney and Dave Odmark of Cassidy Turley BRE represented the property developer and owner, Alexandria Real Estate Equities, Inc., in the transaction. T.D. Rolf of Studley represented Ligand.

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