CapitaLand Ascendas REIT (CLAR) is announcing the signing of a lease with Crinetics Pharmaceuticals for their new global headquarters at 6055 Lusk Boulevard, San Diego, USA:

Under the agreement, CLAR will undertake a convert-to-suit exercise and transform the office property into a premier life sciences property at an estimated cost of US$40.0 million (approximately S$56.4 million).