A joint venture between Los Angeles-based HATCHspaces and Singerman Real Estate in Chicago has acquired the Think Here campus in Thousand Oaks and plans to develop it into the HATCHcampus, a collection of life science facilities.
The 160,980-square-foot campus was sold by Harbor Associates. Financial terms of the transaction, which closed Aug. 28, were not disclosed.
The campus has approximately 25,000 square feet of R&D space and 18,000 square feet of office space available immediately for lease. HATCHcampus will be located in the Conejo Spectrum from Harbor Associates at 2380 Conejo Spectrum St.
HATCH plans to expand on the current roster of science-based companies at Conejo Spectrum, including Atara Biotherapeutics.
“We are very enthusiastic about the science industry’s momentum over the past 12 months in the Conejo Valley,” Allan Glass, HATCH co-founder, said in a statement. “It feels a lot like San Diego’s early years when Hybritech alumni began spinning out new companies, like seeds in a biotech forest. Amgen’s headquarter presence is having that same impact in the region.”
“The Conejo Valley checks all of the boxes for us,” Kiley Stevenson, Singerman principal, said in a statement. “It’s home to several mature life science companies and the quality of life in Thousand Oaks is really second to none. To find a campus-style asset, adjacent to other high-profile developments, with vacant space which we can reposition, is ideal for us.”
The purchase is the first joint venture between the two companies. Both plan on further expanding their life science footprint throughout the Los Angeles market.