According to an industry source, the 192,000-sf, two-building site at 4550 Norris Canyon Rd. has an asking rent of $35 per sf monthly. Odyssey initiated a deal for less than $1.50 per sf, triple-net, due to the sublease. The sublease runs less than a year, and the company has an additional two years direct with the building owner, Equity Office Properties. The master tenant is the Scotts Co.
Odyssey, a privately held Bay-area company, will use the R&D space for biomedical research.
Chuck Campagnet of Colliers International represented Odyssey in the transaction while John Fennel with Cushman & Wakefield represented Equity Office and Scotts.
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