Business & Tech
Verenium Signs Lease in Torrey Pines
A local industrial biotechnology company will move its facilities to Torrey Pines next year.
Verenium, a biotechnology company focused on the development and commercialization of enzymes in the food and fuel markets, is moving to Torrey Pines.
Cassidy Turley BRE Commercial announced on Monday that Verenium, (NASDAQ:VRNM), signed a 126-month lease to move to office and laboratory space on the 3500 block of John Hopkins Court not too far from . The lease is valued at $24 million.
Verenium leased 59,199 square feet of office and laboratory space in a two-story, two-building complex under construction on the corner of John Jay Hopkins Drive and John Hopkins Court. The project is scheduled for completion in June 2012.
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Dave Odmark, Brian Starck and Jerry Keeney of Cassidy Turley BRE Commercial represented the property developer and owner, Alexandria Real Estate Equities in the transaction. Greg Bisconti and Brent Jacobs of Cushman & Wakefield represented Verenium.
In September 2010, Verenium closed the sale of its cellulosic biofuels business to BP for $98.3 million.
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