NEW YORK (GenomeWeb News) – Illumina disclosed after the close of the market on Thursday that it has signed a lease for new and bigger headquarters within San Diego.
The lease is anticipated to take effect Nov. 1. Under the terms of the lease, Illumina's new headquarters will consist of two existing office buildings and a central plant building containing about 346,600 rentable square feet in aggregate, the company said in a document filed with the US Securities and Exchange Commission.
Illumina also has agreed to lease a third office building to be built on the property, which will have 123,400 rentable square feet. The company also has the right to expand its facility to include the leasing of one or more of three additional office buildings that may be built on the property.
The landlord, an affiliate of Alexandria Real Estate Equities, has granted Illumina first-refusal rights covering certain proposed sales by the landlord on the property to any third party, Illumina added.
During the course of the 20-year lease, the company is expected to pay $335.1 million in aggregate rent for the three office buildings and the central plant building that it has agreed to lease. That figure does not include rent for expanded space Illumina may lease.
Illumina is currently headquartered at 9885 Towne Centre Drive. Its new address will be at 5200 Research Place.