- Armata Pharmaceuticals (Armata) is a publicly traded, clinical-stage biotechnology firm formed by the merger of AmpliPhi Biosciences and C3J Therapeutics. Armata occupied a 35,453-square-foot location in Marina Del Rey, CA and, with their lease expiring more than two years out, talk of renewal or relocation was not a consideration when approached by Stream Realty Partners (Stream).
- Armata’s plan was to engage their current landlord directly to negotiate their lease renewal. When approached, they agreed to allow Stream the opportunity to begin lease conversations. The caveat was that Stream’s advisory services would not cost Armata any money, either in upfront fees or upcharges built into the final lease. The Stream team not only agreed to those terms, but guaranteed Armata they would save 20% on their lease, or the team would forfeit any earned commissions.