MENLO PARK, Calif., July 27, 2015 – Tarlton Properties, Inc. (TPI), a commercial property development and asset manager, and Principal Real Estate Investors, today announced that CardioKinetix, Inc. signed a five-year lease for 14,138 square feet of office and lab space at 1360 O’Brien Drive in Menlo Business Park.
CardioKinetix, a Menlo-based medical device company pioneering a catheter-based treatment for heart failure, has developed a transcatheter implant called the Parachute® Ventricular Partitioning Device (Parachute), which intends to treat heart failure resulting from a heart attack in patients worldwide by improving overall cardiac function.
“We are excited to welcome CardioKinetix into Menlo Business Park,” said John Tarlton, president and CEO of Tarlton Properties. “The catheter-based technology company is a great addition to our portfolio of biotech and medical device companies. We look forward to accommodating their growth.”
“Given our current growth path, Menlo Business Park was the obvious choice for our new office,” said Maria Sainz, president and CEO of CardioKinetix. “We are confident that our new space provides us with everything we need to continue growing our clinical development to bring this novel heart failure therapy to the global marketplace.”
This new lease at Menlo Business Park comes on the heels of a 31,000 square-foot lease by Personalis, Inc., a leading genomics-based clinical diagnostic laboratory; and an 18,000 square-foot long-term lease expansion by Intersect ENT, Inc., an ear, nose and throat biotech company.
Kidder Mathews represented Tarlton Properties and Jones Lang LaSalle represented CardioKinetix in the lease agreement.
About CardioKinetix Inc.
CardioKinetix, based in Menlo Park, Calif., is pioneering the catheter-based Parachute® Ventricular Partitioning Device for heart failure. Privately held, the company is backed by U.S. Venture Partners, Tekla Healthcare Investors (NYSE:HQH), Tekla Life Sciences Investors (NYSE:HQL), SV Life Sciences, Panorama Capital, New Leaf Venture Partners, Lexington Private Equity, and Edwards Lifesciences. For more information please visit www.cardiokinetix.com.
About Tarlton Properties
Tarlton Properties, Inc., (TPI) founded in 1980 and headquartered in Menlo Park, Calif., provides commercial property development, redevelopment, construction management, and management services, as well as innovative and creative investment opportunities in select properties. TPI’s full development capabilities are illustrated by its largest project, the award-winning, 50-acre, 900,000-square-foot Menlo Business Park. TPI has developed and redeveloped approximately 4.5 million square feet in the area, both as a principal and for other owners, including 1.5 million square feet of REO properties for institutional clients. For detailed information, visit: www.tarlton.com.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $47.8 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®. For more information, visit www.principalglobal.com/principal-real-estate-investors.