COSMO BIOSCIENCE RENEWS AT SORRENTO BUSINESS COMPLEX

by Dan Peoples | Nov 20, 2012

October 26, 2012

NEWS FROM:  Parallel Capital Partners, Inc.

FOR INFORMATION: Matt Root, Parallel Capital Partners, 858-882-9506
   Jim Ingebritsen, Parallel Capital Partners, 858-882-9504
   Dan Peoples, Peoples & Company, 858-552-1456

Parallel Capital Partners Renews Cosmo Bioscience, Inc. at Sorrento Business Complex

San Diego, Calif.  Parallel Capital Partners, Inc. reports that Cosmo Bioscience, Inc., a specialty pharmaceutical company, has renewed for 7,904 square feet of office space in the building located at 11555 Sorrento Valley Road in San Diego, California. The lease term is for 25 months.

Sorrento Business Complex, a five building complex constructed between 1973 and 1975 and renovated in 2010, located at 11535, 11545, 11555, 11575 and 11585 Sorrento Valley Road and comprise a total of 126,329 square feet on 6.3 acres. Currently 85% occupied, major tenants are Rempex Pharmaceuticals and Vaxiion Therapeutics.

Cosmo Bioscience was represented by Cushman & Wakefield in the transaction. Parallel Capital Partners represented itself.

Parallel Capital Partners, Inc. (parallelcapitalpartners.com) is a real estate investment and operating firm that focuses on office, industrial and retail property acquisition in markets in the western U.S. and Hawaii. The company identifies opportunities where assets are undervalued and uses restructuring, capital improvements and superior leasing and management to turn value-added opportunities into core properties.