Science and Technology

Definition Science and technology companies include firms within a wide range of industry sectors including biotechnology, pharmaceuticals, nanotechnology, bioinformatics, biomedical, medical device, diagnostics, biopharmaceutical processing, and data management and storage among others.

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SPECIALTY LABS CORPORATE HEADQUARTERS

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Build-to-suit
Case Study
SPECIALTY LABS CORPORATE HEADQUARTERS

 

 

 

Tourney Road
Valencia, California

Size
200,000 square feet

Project Type
Office, laboratory, and warehouse for esoteric clinical laboratory testing and related legal uses.

Program Elements
  • 200,000 SF office
  • 13.8 Acres
  • 940 parking spaces
  • 3 Floors of approximately 66,000 square feet each

Development & Financing Services
  • Site Acquisition
  • Financial Advisory
  • Permits and Approvals
  • Design Supervision
  • Project Management
  • Construction Management

The building is three stories of approximately 66,000 square feet each, totaling 198,000 gross square feet.

Project Schedule
Acquisition: 2002
Completion: 2003


 

The Specialty Laboratories project is a laboratory and corporate headquarters facility built in Santa Clarita, California. Specialty Laboratories is a research-based clinical laboratory that is primarily focused on esoteric clinical laboratory tests. The project was a turn-key, build-to-suit development inclusive of all shell, core and tenant improvement design and construction. The project was initially financed utilizing a synthetic lease finance structure. The debt and equity financing, was arranged by a principal of our firm, and provided by a seven bank group syndicate, closed in April of 2002. Construction for the project commenced immediately following the close of financing. In 2003, as financial reporting rules relating to synthetic leases were modified by the FASB, the project was recapitalized using traditional real estate debt and equity.

The site, which was owned by Specialty and ground leased to the building Landlord, is a 13.8-acre parcel located on Tourney Road north of Valencia Boulevard. The building is three stories of approximately 66,000 square feet each, totaling 198,000 gross square feet. Other components of the project include a central plant to support the building and lab space, and approximately 940 surface parking spaces.

 

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