Cancer research firm Kite Pharma pays $135M for Santa Monica R&D building

The Gilead Sciences subsidiary continues its expansion in the area

Cancer research firm Kite Pharma is paying $135 million for a 160,000-square-foot research and development building in Santa Monica, adding to its already sizeable footprint there.

The latest acquisition makes it the highest amount paid for a flex R&D building in Los Angeles County, according to CoStar. The deal likely includes a leasehold agreement, because the city owns the land beneath the facility.

The seller is Agensys Inc., whose lease expires in 15 years, with an option to extend to 2042, at $972,000 per year. The company redeveloped the property in 2011, but its parent company, Astellas Pharma Inc., announced last year it would shut down Agensys.

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The research facility is about a half-mile from Kite Pharma’s existing 180,000-square-foot headquarters, the Colorado Center. The company has smaller facilities around Santa Monica and a 100,000-square-foot facility in nearby El Segundo, according to CoStar.

The property includes a three-story building and a one-story “retail and amenity building,” according to its listing with HFF. Those consist of research and office space, a conference center, fitness center, and café,

Gilead Sciences acquired Kite Pharma in August for $11.9 billion, calling it a leader in the emerging field of cell therapy. The therapy “uses a patient’s own immune cells to fight cancer,” according to a news release at the time.  [Costar] –Dennis Lynch

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Cancer research firm Kite Pharma pays $135M for Santa Monica R&D building

The Gilead Sciences subsidiary continues its expansion in the area

Cancer research firm Kite Pharma is paying $135 million for a 160,000-square-foot research and development building in Santa Monica, adding to its already sizeable footprint there.

The latest acquisition makes it the highest amount paid for a flex R&D building in Los Angeles County, according to CoStar. The deal likely includes a leasehold agreement, because the city owns the land beneath the facility.

The seller is Agensys Inc., whose lease expires in 15 years, with an option to extend to 2042, at $972,000 per year. The company redeveloped the property in 2011, but its parent company, Astellas Pharma Inc., announced last year it would shut down Agensys.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

The research facility is about a half-mile from Kite Pharma’s existing 180,000-square-foot headquarters, the Colorado Center. The company has smaller facilities around Santa Monica and a 100,000-square-foot facility in nearby El Segundo, according to CoStar.

The property includes a three-story building and a one-story “retail and amenity building,” according to its listing with HFF. Those consist of research and office space, a conference center, fitness center, and café,

Gilead Sciences acquired Kite Pharma in August for $11.9 billion, calling it a leader in the emerging field of cell therapy. The therapy “uses a patient’s own immune cells to fight cancer,” according to a news release at the time.  [Costar] –Dennis Lynch

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