In growth mode, advanced bionics building new site.On the heels of an expansion into a new area of medical devices, Advanced Bionics has inked a 15-year lease deal for a large build-to-suit in Santa Clarita Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, . The company, which manufactures cochlear implants Cochlear Implants Definition A cochlear implant is a surgical treatment for hearing loss that works like an artificial human cochlea in the inner ear, helping to send sound from the ear to the brain. , will build a 182,000-square-foot manufacturing and office building on 63.5 acres of land in the Mann Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. Park. Advanced Bionics, a unit of Boston Scientific The Boston Scientific Corporation (NYSE: BSX) (abbreviated BSC), is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, Corp., also has an option to build an additional 285,000-square-foot building on the property. The latest deal, which includes a 15-year lease on a 57,000-square-foot warehouse on the site, is valued at $51 million. "The driving factor was to accommodate their growth," said Tom Turley, a broker with Staubach, who represented Advanced Bionics in the transaction with Staubach's Michael Siteman, Scott Flanagin and Sean Westgate. "They couldn't have survived in Sylmar for too much longer without limiting their production capacity." Advanced Bionics will move its current manufacturing operation, now located in several buildings in Sylmar, to the new facility. Much of the company's growth stems from its launch last year of a spinal cord spinal cord, the part of the nervous system occupying the hollow interior (vertebral canal) of the series of vertebrae that form the spinal column, technically known as the vertebral column. stimulation system, implants that are used to treat chronic pain. Advanced Bionics has been at work adding some 250 employees to accommodate the new business. The company has already occupied some space at the Mann Biomedical Park for its administrative offices. Mann Biomedical Park, a 167-acre parcel in Santa Clarita, was acquired by billionaire entrepreneur Alfred Mann in January, 2002. Since that time, the existing 450,000 square feet of buildings on the property have been fully leased to a range of companies, including several of Mann's endeavors, the Alfred Mann Foundation, Hughes Supply and College of the Canyons College of the Canyons is one of the fastest-growing community colleges in the state. According to the National Junior College Research Association, College of the Canyons consistently ranks in the top 50 community colleges in the nation. , said Jim Linn linn n. Scots 1. A waterfall. 2. A steep ravine. [Scottish Gaelic linne, pool, waterfall.] , a broker with Grubb & Ellis, who, along with Grubb's Nigel Stout and Lance Kawasaki, represented the landlord in the Advanced Bionics deal. The business park is expecting to break ground in the first quarter of next year on a 50,000-square-foot speculative building. A portion of the new facility will be occupied by one of the Mann companies and another existing tenant. About hag the building will be available for lease, Linn said. Senior reported Shelley Garcia can be reached at (818) 316-3123 or by e-mail at sgarcia@sfvbj.com |
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