LOS ANGELES, CA – May 21, 2020 – Stream Realty Partners (Stream), a national real estate services, development, and investment company, announced today the 35,453-square-foot renewal of Armata Pharmaceuticals (Armata), a clinical-stage biotechnology company in the Marina Business Center in Marina Del Rey. Armata, formerly C3 Jian, is focused on the development of precision-targeted bacteriophage therapeutics for the treatment of drug-resistant bacterial infections. Negotiated by Tim Dwight, Senior Vice President and Caleb Hodge, Senior Associate of Stream’s West LA office, the transaction is the largest biotech office lease deal in West LA’s commercial real estate market thus far in 2020.
“Our team worked diligently to survey the market and ensure Armata was in the best possible position to make the right decision. Considering the current market environment, we had to ensure the decision to stay or relocate fit their overall growth strategy,” stated Dwight. “The work Armata is doing is powerfully important and the facility and location in which they operate is tied to their success. It allows them to attract seasoned scientists with extensive clinical development experience and further their game-changing research and solution advancements.”
Armata’s location is in the enviable Silicon Beach submarket of Marina Del Rey and home to such well-known companies as Knotel, Tesla, Thrive Market, Sony and HBO. With the home game advantage of living where they work, Dwight and Hodge helped to establish Stream’s West LA office just under a year ago, strengthening the firm’s tenant representation services and overall footprint in the market.
Martin Pupil, Executive Managing Director of Stream’s Southern California operations, said, “We’ve made rapid progress in establishing a strong presence and reputation in the market through our talented team, agile platform and demonstrated commitment to service. We execute business on behalf our clients as if it were our own. This renewal has tremendous upside for our client, and I couldn’t be any prouder of our team’s effort on their behalf.”