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Revolution Medicines, Inc. entered into four separate lease agreements for approximately 672,000 rentable square feet…
RVMDRevolution Medicines, Inc.
Revolution Medicines, Inc. entered into four separate lease agreements for approximately 672,000 rentable square feet of office space in Redwood City, California, to serve as its new headquarters. The leases feature staggered commencement dates between September 2027 and September 2028, with initial terms ending in September 2042 and options for three additional five-year extensions. Aggregate scheduled monthly base rent begins at approximately $2.7 million, increasing by 3% annually, subject to a rent abatement of roughly $23.1 million through January 2030. The company will receive tenant improvement allowances totaling approximately $115.9 million, with an option for up to $40.3 million in additional allowances. The transaction is contingent on the landlords' acquisition of the properties by December 31, 2026, or April 29, 2027. Revolution Medicines operates in the biotechnology industry, focusing on the discovery and development of targeted therapies for cancer.