Axonics, a device maker specializing in products for the treatment of bladder and bowel dysfunction, has signed a lease for a nearly 145,500 square foot space at the Sand Canyon Business Center in Irvine. The 10-year lease, which begins on April 1, 2024, is the largest local office lease signed in the past two years, according to the Orange County Business Journal, which first reported on the story.
The new office will consolidate Axonics’ current offices in the city and will serve as the company’s new headquarters. The new space consists of 119,115 square feet at 15515 Sand Canyon Ave. and 26,371 square feet at the adjacent building at 15525 Sand Canyon Ave. Overall, the Sand Canyon Business Center, owned by Irvine Company, includes seven buildings with a total of 665,000 square feet.
The company’s main headquarters are currently located at 26 Technology Drive within Irvine Company’s Alton/Technology Business Park, but the new office marks a significant expansion in local space for the nearly $3 billion-valued firm. The company’s new offices will feature up to $8.5 million in tenant improvements paid for by Irvine Company. The monthly rents will start at $2.15 per square foot.
The move comes after Axonics’ significant growth in revenue over the past two years. In 2021,the company saw a nearly 4,500 percent growth in revenue from 2019 to 2021. As of the end of last year, the company had 650 employees worldwide. The new headquarters at the Sand Canyon Business Center is set to accommodate the company’s growing workforce and operations.
