Axonics has leased offices in two buildings in Irvine containing nearly 145,500 square feet for a new headquarters hub, marking the largest office deal in Orange County in two years.
The medical device maker will take a 119,100-square-foot building at 15515 Sand Canyon Avenue and a 26,400-square-foot office at 15525 Sand Canyon Avenue next door, the Orange County Business Journal reported.
The buildings are in the Sand Canyon Business Center, owned by the Newport Beach-based Irvine Company. Rents will start next year at $2.15 per square foot.
The buildings, a few blocks from Irvine Valley College, will serve as the firm’s new headquarters beginning next year.
It marks the largest office deal in OC since early 2021, when Anduril Industries leased the The Press in Costa Mesa, which will total some 640,000 square feet at buildout.
The new corporate hub represents a major expansion for Axonics, which saw record sales last year for products for the treatment of bladder and bowel dysfunction.
The Irvine Company has agreed to pay up to $8.5 million in tenant improvements as part of the lease, which spans 10 years and begins April 1, 2024. Monthly rents start at $2.15 per square foot, regulatory filings indicate.
Axonics currently occupies about 75,000 square feet across four offices in Irvine.
By the end of next year, it will have terminated its leases at 7575 Irvine Center Drive, 26 Technology Drive and 15326 Alton Parkway. Its main headquarters are now at 26 Technology Drive, within Irvine Company’s Alton/Technology Center.
Axonics also occupies five suites at 18 Technology Drive at Technology Link, another Irvine Company-owned campus. It has extended its lease at the 59,335-square-foot building through the end of next year as it builds out its new offices.
Axonics’ new offices in the Sand Canyon Business Center – which contains seven buildings totaling 665,000 square feet – were built in 2000.
— Dana Bartholomew
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