IPA sells Roche manufacturing facility in Marana for M
Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of a 60,437-square-foot life sciences...
Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of a 60,437-square-foot life sciences and advanced manufacturing facility in Marana, Arizona. The asset is subject to a 10-year, triple-net lease with options held by Roche Molecular Systems. The sales price was $19 million, which equates to $314.38 per square foot . READ ALSO: Here's how Arizona bioscience sector is pioneering innovations 'The facility is a build to suit for the tenant, a wholly owned subsidiary of the Roche Group, a Swiss pharmaceutical conglomerate that reported 2020 annual revenues of over $62 billion,' said Peter Bauman, IPA senior director.