Ready for Growth
March 1, 2011
By: John W. McCurry

Astellas Pharma acquired California biotech firm Agensys in 2007. A new research and manufacturing facility is planned for the Santa Monica-based company, which specializes in oncology products. Agensys, which was founded by an oncologist at UCLA in 2007, currently employs 211. ...

...The transaction included the purchase of the existing ground lease from The Lionstone Group, as well as the extension of the ground lease and the execution of a development agreement with the City of Santa Monica to expand the site's total allowable square footage. The two buildings currently sitting on the site will be demolished.

Agensys was represented by global tenant advisory firm Studley.

"Clearly, Agensys has a significant presence in Santa Monica and is a highly sought after tenant," said Matthew Brainard, corporate managing director in Studley's Los Angeles office. "We proactively and creatively pursued all viable opportunities, including evaluating the entire Westside and South Bay markets, before recommitting to the City of Santa Monica." ...

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