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Eli Lilly to locate West Coast operations in San Diego

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Leading pharmaceutical company Eli Lilly and Co. (NYSE: LLY) has reportedly leased property in University Towne Center for its West Coast biotech center.

Lilly signed a 10-year lease with Veralliance Properties for roughly 125,000 square feet of space at Campus Pointe, a two-story Class A office/life science project located at 10300 Campus Point Drive. According to Veralliance, Lilly plans to locate its West Coast operations in the campus upon completion of renovations in March 2009.

According to Eli Lilly’s Web site, this facility would be the company’s only biotech site outside of its home base in Indianapolis, though it has facilities in other countries. Lilly’s venture capital group has a presence in San Diego, and also has deals with other San Diego companies such as Amylin (Nasdaq: AMLN).

Financial terms of the transaction were not disclosed. Lilly representatives were not available for comment.

According to Veralliance, in addition to its West Coast operations, Lilly will also share the space with two San Diego companies it has acquired, Applied Molecular Evolution (AME) and SGX Pharmaceuticals.

Kyocera Wireless will share the building as well. The San Diego company has been a tenant in Campus Point since 2000 and currently occupies approximately 43 percent of the facility.

The Campus Pointe facility totals 450,000 square feet of space within a 42-acre enclave near Torrey Pines. The facility was designed by San Diego architecture firm Tucker Sadler.

According to Veralliance, the facility includes a translucent green glass curtain wall providing floor-to-ceiling glass for all new tenants, a two-story atrium entrance with a “pass through” lobby leading to a two-story spiral staircase, a multi-purpose conference center, fitness room complete with showers and lockers, and bistro with an outdoor seating area.

In the transaction, Brent Jacobs, Greg Bisconti and Brian Cooper of Cushman & Wakefield’s Life Science Group represented Eli Lilly and Company. Veralliance Properties was represented by Mark Wayne and Steve Wolf, also from Cushman & Wakefield.

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