Nereus Pharmaceuticals, Inc. signed a 114-month lease for wet lab space within the facility at 10480 Wateridge Circle Drive. The lease is valued at more than $11 million. The biotech company, currently headquartered on Towne Centre Drive in the University Towne Center area of San Diego, is relocating to the new facility in May.
Nereus Pharmaceuticals develops therapeutic compounds for the treatment of inflammation, cancer and infectious diseases.
Multi-Tech Properties Inc. is the project owner and developer. Brian Driscoll, SIOR, Eric Northbrook, SIOR, and Chad Urie of Colliers International are the leasing representatives. Brian Mulvaney and Joel Tomlinson of Voit Commercial Brokerage Company represented Nereus.
Wateridge Summit is a Class A, corporate office and biotech project. It includes three free-standing two-story buildings of 46,142 sf, 29,141 sf, and 31,207 sf, totaling 106,490 sf on an 8.64-acre campus overlooking Interstates 805 and 5.
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