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Cushman & Wakefield Represents Tenant and Landlord in 96,000-SF Office/Life Sciences Headquarters Lease in San Diego
Rhea-AI Impact
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Rhea-AI Summary
Cushman & Wakefield (NYSE: CWK) has announced that DermTech, Inc. has leased approximately 96,000 square feet at the Del Mar Corporate Centre (DMCC) in San Diego for its new headquarters and laboratory. The DMCC, owned by Kilroy Realty (NYSE: KRC), features three Class A buildings with modern amenities and easy access to shopping and dining. DermTech plans significant renovations to convert office space into a life sciences lab to facilitate early melanoma detection. This move reflects the growing demand for biotech space in the San Diego area.
Positive
DermTech leases 96,000 square feet at DMCC, enhancing its capacity for growth.
Location in San Diego supports DermTech's mission in precision dermatology.
DMCC offers Class A amenities, improving operational efficiency.
Negative
None.
SAN DIEGO--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced that DermTech, Inc., a leader in precision dermatology, has leased approximately 96,000 square feet of Class A space at the Del Mar Corporate Centre (DMCC) for its new corporate headquarters in Del Mar Heights (San Diego), California. The building will also be the site of the company’s laboratory (the “DermTech Gene Lab”) where DermTech will among other things, process its DermTech Melanoma Test to aid in the early detection of melanoma.
Owned by Kilroy Realty, DMCC is a three-building, Class A campus featuring well-appointed design, beautiful common areas and outdoor lounges, and a prime, prominent presence. DMCC is surrounded by world-class shopping and dining, and is near many of San Diego’s top neighborhoods. The campus also has excellent visibility and accessibility from Interstate 5.
Cushman & Wakefield’s David Odmark represented DermTech and Cushman & Wakefield’s Brett Ward, Brian Starck and Michael Cassolato represented Kilroy Realty in the transaction.
DermTech’s new headquarters will be located at 12340 El Camino Real and will undergo a significant transformation that will include conversion of office space to life sciences laboratory space.
"We are very excited to welcome and accommodate DermTech in Kilroy’s portfolio. DermTech’s decision to locate its new headquarters in Del Mar Heights is a move that we believe will be the first of many life sciences companies to cluster in the submarket," said Ward, Executive Managing Director. “This transaction also reflects Kilroy’s ability to quickly and successfully convert property in order to meet the needs of today’s life sciences and biotech companies. A trend we anticipate will continue growing in the area given San Diego’s lack of supply and its position as one of the world’s premier life sciences hubs.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About DermTech
DermTech is the leading genomics company in dermatology and is creating a new category of medicine, precision dermatology, enabled by our non-invasive skin genomics platform. DermTech’s mission is to transform dermatology with our non-invasive skin genomics platform, to democratize access to high quality dermatology care, and to improve the lives of millions. DermTech provides genomic analysis of skin samples collected non-invasively using an adhesive patch rather than a scalpel. DermTech markets and develops products that facilitate the early detection of skin cancers, and is developing products that assess inflammatory diseases and customize drug treatments. For additional information on DermTech, please visit DermTech’s investor relations site at: www.dermtech.com.
About Kilroy Realty Corporation
About Kilroy Realty Corporation. Kilroy Realty Corporation (NYSE: KRC, the "company", "KRC") is a leading U.S. landlord and developer, with operations in San Diego, Greater Los Angeles, the San Francisco Bay Area, the Pacific Northwest, and Austin, Texas. The company has earned global recognition for sustainability, building operations, innovation and design. As pioneers and innovators in the creation of a more sustainable real estate industry, the company’s approach to modern business environments helps drive creativity, productivity and employee retention for some of the world’s leading technology, entertainment, life science and business services companies. More information is available at http://www.kilroyrealty.com.
