Item 2. Properties
Item 2. Properties.
Our corporate headquarters are located in South San Francisco, California, where we lease approximately 12,300 square feet of office, research and development, engineering and laboratory space pursuant to a lease agreement which commenced on July 1, 2017 and expires on June 30, 2024 with an option to extend for five years.
In December 2020, we entered into an agreement to lease approximately 65,818 square feet of office and laboratory space in Brisbane, California with an affiliate of our current landlord. The term of the Brisbane lease is expected to begin in November 2021 and end in October 2031, with an option to extend for an additional ten years. Concurrent with the execution of the Brisbane lease agreement, we entered into an agreement to terminate our existing lease for our current corporate headquarters in South San Francisco effective upon the commencement of the Brisbane lease. We believe that our existing facilities are sufficient for our near-term needs.
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