MP Bio Purchases Irvine Flex R&D Building for $11M

Medical product manufacturer MP Biomedicals, LLC has purchased a 30,000-square-foot industrial Flex R&D building in Irvine, CA for $11 million, or $371 per square foot. NAI Capital Commercial’s Steve Liu and Andrew Batcheller represented the buyer in the transaction, while CBRE represented the seller, Alexandria Real Estate Equities.

The facility is located at 6 Thomas, within the Irvine Spectrum industrial submarket. The free standing, 2-story property features glass and steel construction, and is split evenly between office and lab space. MP Bio plans to occupy a portion of the vacant building, and lease out the remaining space to tenants in the life science industry.

The building is situated on 1.5 acres, close to the University of California, Irvine campus, the Irvine Spectrum Entertainment Center and the U.S. Food and Drug Administration Regional Laboratory.