other material
confidence high
sentiment neutral
materiality 0.55
Pacific Biosciences extends Menlo Park lease to 2034, gets $11.6M rent abatement
PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
- Lease term extended to April 30, 2034 from Oct 31, 2027; 180,231 sq ft.
- Base rent ranges from $5.70 to $6.81/sq ft/month; monthly rent ~$1.03M to ~$1.23M.
- Seventeen months rent abatement totaling $11.64M; tenant improvement allowance $7.21M.
- Option to extend through April 2044 at fair market rent.