Instil Bio leases Tarzana facility to AstraZeneca for ~15 years at $7.5M/yr initial rent

Instil Bio, Inc.

Initial term ~15 years from July 10, 2024 to July 31, 2039; two 5-year extension options.
Initial base rent $627,276/month ($7,527,312 annually) escalating 3% per annum.
Tenant has one-time option to terminate at 10th anniversary with termination fee.
Rent abatement during first year; Tenant also pays certain operating and tax expenses.
Tenant granted a right of first offer to purchase the leased premises.

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