Armata Pharmaceuticals’ Del Rey Office Lease Signals Continued Interest in Westside

Armata Pharmaceuticals’ Del Rey Office Lease Signals Continued Interest in Westside
5005 McConnell Ave. in Del Rey.

Armata Pharmaceuticals Inc. has leased a new headquarters building at 5005 McConnell Ave. in Del Rey. The company is currently at a nearby building at 4503 Glencoe Ave. in Marina del Rey.

The lease is for a 56,300-square-foot stand-alone creative office space — a significant increase from the company’s current 35,000-square-foot facility. The new space will be home to Armata Pharmaceuticals’ research and development, administrative and manufacturing functions.

The company makes treatments for antibiotic-resistant and difficult-to-treat bacterial infections.

“Armata’s innovative phage therapy pipeline will be enhanced by our commitment to build out a new R&D facility that offers expanded GMP manufacturing capacity to support future pivotal studies and commercial launch,” Brian Varnum, Armata’s chief executive, said in a statement. “This new, state-of-the-art facility is essential for our novel product form given the scarcity of phage-specific manufacturing capacity.”

Stream Realty Partners’ Tim Dwight and Caleb Hodge represented Armata Pharmaceuticals in the lease. CBRE Group Inc.’s Jeff Pion, Andrew Riley, Michelle Esquivel-Hall and Drew Pion represented the landlord, Montana Avenue Capital Partners.

“It’s been incredibly exciting to be a part of Armata’s growth strategy,” Dwight said in a statement. “This new facility will allow them to expand their operation with state-of-the-art equipment while attracting top-tier talent.”

Hodge added that the new location would help Armata Pharmaceuticals with its current needs as well as its future growth.

The Westside’s office market in the third quarter had a vacancy rate of 17.2%, lower than the county average of 19.2%, according to data from Jones Lang LaSalle Inc. The brokerage also found that asking rents from Class A office properties were $5.59 a square foot, $1.50 higher than the county average. It is the priciest office market in L.A., according to JLL data.

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