BioTime, Inc has entered into a lease for 30,795 square feet of space in two buildings in an office park setting at 1010 and 1020 Atlantic Ave in Alameda, CA.
BioTime plans to operate its principal offices and research facilities at the newly leased premises when the lease of its current facility at 1301 Harbor Bay Parkway in Alameda, California expires at the end of February.
The lease term is seven years. BioTime has an option to renew the term for an additional five years.
The landlord will provide a tenant improvement allowance of $1,385,775. The allowance may be increased by an additional $307,500 that will be amortized and repaid to the landlord with interest at a rate of 10 percent per annum on a monthly basis over the seven year term of the lease.
1010 and 1020 Atlantic Ave in Alameda are listed on the website for Marina Village, the East Bay’s Class A Office, Flex and Tech campus encompassing 200 acres, 30 buildings and over 1 million rentable square feet.