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November 17, 2015

General Atomics, Biotech Firms Sign New Leases

San Diego Business Journal

Lou Hirsh

Property owners and brokers recently announced significant lease deals in Poway and Carlsbad, including General Atomics Aeronautical Systems Inc.'s move to take 112,000 square feet in a Poway transaction valued at $4.2 million.

A statement from property owner CT Realty said General Atomics signed a four-year lease to take all of the space in the industrial property at 13550 Stowe Drive. The aeronautics and defense contractor was the existing tenant when Aliso Viejo-based CT Realty purchased the Poway building earlier this year, but moved out at the end of its prior lease before recently signing the new agreement.

CT Realty was represented by Ted Cuthbert of brokerage firm Colliers International; and Bob Willingham, James Duncan and Mickey Morera of Kidder Mathews. General Atomics represented itself.

In Carlsbad, San Diego-based life science firms Acutus Medical Inc. and GenMark Diagnostics Inc. signed new leases, valued at a total of $14.5 million, at Research Center Pointe, at 2210 Faraday Ave., according to brokerage firm Cushman & Wakefield.

Acutus, which develops technologies to treat cardiac arrhythmias, leased 46,000 square feet for seven years. GenMark, a molecular diagnostics company, signed for 34,000 square feet for 7.5 years.

The Carlsbad property's owner, Regent Properties of Los Angeles, was represented by Cushman & Wakefield's Aric Starck, who also represented Acutus. Genmark was represented by Craig Knox of Hughes Marino.

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