PropertyApr 14, 2026, 12:48 PM
Boundless Bio terminates 80,168 sq ft lease, pays $10.5M
AI Summary
Boundless Bio, Inc. has terminated its lease agreement for approximately 80,168 square feet of laboratory and office space in San Diego, effective May 31, 2026. The original lease was set to expire in October 2034. As consideration for the early termination, the company will pay a $10.0 million lease modification payment and the landlord will retain the $0.5 million security deposit, totaling $10.5 million in costs. This move reduces the company's long-term real estate obligations but incurs a significant immediate expense.
Key Highlights
- Boundless Bio terminated its lease for 80,168 sq ft of lab and office space.
- The termination is effective May 31, 2026, eight years earlier than planned.
- The company will pay a $10.0 million lease modification fee.
- The landlord will retain the $0.5 million security deposit.
- Total cost for early termination is $10.5 million.