Alexandria takes tenant bicoastal at Kips Bay life sciences center

Eikon Therapeutics takes 25K sf after leasing 285K sf for California headquarters

Alexandria Real Estate Equities' John Cunningham and 430 East 29th Street (Alexandria, LoopNet, Getty)
Alexandria Real Estate Equities' John Cunningham and 430 East 29th Street (Alexandria, LoopNet, Getty)

One of New York City’s prominent life sciences facilities has a new tenant, but the landlord won’t need an introduction.

Eikon Therapeutics signed a 25,000-square-foot lease at the Alexandria Center for Life Science in Kips Bay, the biotech company announced Thursday. The space at the Alexandria Real Estate Equities building will be used for clinical development and research.

The facility will serve as an East Coast base for Eikon, which is based in Hayward, California.

This is old hat for the companies, which recently teamed on a bigger lease on the other side of the country. Eikon last month leased 285,000 square feet at Alexandria’s new life sciences complex being built in Millbrae, California.

Terms of the lease were not disclosed, but the footprint accounts for half of the three-building complex, expected to be completed in late 2024.

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Cushman & Wakefield represented the tenant in the Kips Bay lease.

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Eikon was co-founded in 2019 by Eric Betzig, who shared the 2014 Nobel Prize in chemistry. The biotech company raised $517.8 million in a Series B funding round in January and has raised $668 million overall.

Pasadena-based Alexandria, an REIT specializing in life sciences development, has been part of a surge in the sector in New York City. The company reached an agreement in 2018 to build the 550,000-square-foot tower at 430 East 29th Street, part of a 1.3 million-square-foot campus.

Black Diamond Therapeutics last year signed an 18,000-square-foot lease at the building, part of a record-breaking surge in life sciences leasing in the city. Then-Mayor Bill de Blasio pledged $500 million for life sciences development, bringing total investment in the sector up to $1 billion as the city competes with the likes of Boston and San Francisco.