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California  + Bay Area  + Healthcare  | 

CARGO Biotech Leases 100K SF with Alexandria in San Carlos

Alexandria Real Estate Equities, Inc. said Thursday it had executed a long-term lease with CARGO Therapeutics for 99,557 square feet at 835 Industrial Road on the Alexandria Center for Life Science – San Carlos campus. CARGO anticipates occupying the mission-critical life science space in early 2024.

CARGO, which raised approximately $291 million in its IPO last month, is a clinical-stage biotechnology company focused on advancing its platform technologies and a pipeline of potentially curative, next-generation cell therapies that could lead to better outcomes for cancer patients. The IPO beat CARGO’s target of $281.3 million, according to published reports.

Pasadena-based Alexandria didn’t identify any leasing professionals on either side of the transaction. The San Carlos campus currently has nearly 737,000 square feet in operation.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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