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Glaukos Corp., the most valuable public company in Orange County’s thriving ophthalmology sector, appears to be expanding its corporate footprint.
The maker of the world’s smallest medical device (NYSE:GKOS) paid $16.6 million for a two-floor, 40,000-square-foot office building that sits next to its Aliso Viejo headquarters.
Glaukos acquired 26800 Aliso Viejo Pkwy. at Town Center Corporate Park, from Aliso Pacific Office Partners LLC and individual trustees, according to CoStar and public documents.
The sale was finalized April 4 with Glaukos paying $414.50 per square foot for the Aliso Viejo office building.
It’s unclear what Glaukos’ intentions are for the site. The company declined to comment for this story.
The company established its corporate headquarters at One Glaukos Way in Aliso Viejo, in 2022. The three-building HQ, next to Town Center Corporate Park, spans 160,000 square feet.
Glaukos, which has a $5.3 billion market cap, also purchased 2.5 acres of vacant land adjacent to the headquarters property in 2019.
Town Center Corporate Park was built in 2000 and developed by Shea Properties, according to CoStar. The office building is located within the 300-acre Aliso Viejo Town Center, a mixed-use development with office, restaurants, retail and entertainment uses. Hotels are planned for the site.
CoStar data also show the building’s current tenants include State Farm, Neuros, Two Masters Wine Club and JMJ Financial Group.
Aliso Viejo Office Partners paid $7 million for the office building at 26800 Aliso Viejo Pkwy. in August 2003.
Expansion into Alabama
Glaukos’ $16.6 million purchase of Town Center Corporate Park was made after it announced plans to build an R&D and manufacturing facility in Huntsville, Alabama.
The new 200,000-square-foot plant sits on 25 acres in Huntsville. Construction on the site is set to begin in 2026, according to a recent Securities & Exchange Commission filing.
The city of Huntsville said Glaukos would invest $82 million into the facility and bring 164 full-time jobs to the region by 2030.
The development agreement between Glaukos and the city of Huntsville includes an option for the medical device maker to develop an additional 15 acres as part of any future expansion.
Glaukos, founded in 1998, also manufactures some of its products at a 120,000-square-foot campus in San Clemente. The medical technology company specializes in developing and commercializing therapies to treat glaucoma, corneal disorders and retinal diseases (see list, page 28).
Manufacturing for pharmaceutical therapies for keratoconus, a progressive eye disorder that leads to blurry vision, light sensitivity and double vision, are located at Glaukos’s 60,000-square-foot facility in Burlington, Massachusetts.
Glaukos’ international subsidiaries lease spaces in Australia, Brazil, Canada, Germany, Japan and the United Kingdom.
The medical technology company reported $383.5 million in net sales for 2024. In January, Glaukos CEO Thomas Burns was named a Businessperson of the Year by the Business Journal.