The Abgenix lease marks an approximate lease rate of more than $3.00/sf. Abgenix now occupies a total of more than 345,000 sf in Fremont, having leased 290,000 square feet in the past 12 months.
Mark Pearson, principal in the Palo Alto office of CRESA Partners represented Abgenix, which develops antibody therapeutic products for treating various disease conditions needed to expand its office and R&D space. Colliers International represented AMB.
"Fremont is ideal for biotech companies who want to be close to the peninsula and close to Stanford," says Pearson. "Housing is far more affordable and there is a room for companies who want to grow and expand in the Fremont/Ardenwood area."
The company's corporate office includes a 100,000-sf building on 6701 Kaiser Drive and a build-to-suit 116,000-sf research facility adjacent to the building.
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