Deals
The Real Deal – September 28
SteelWave, a San Mateo-based development company, has proposed a life science campus that stretches across two city blocks in West Berkeley, according to public records. If the project – called theLAB – gets approved and completed, by early 2024 nearly 600 employees could work at the campus that covers more than 3 acres.
Connect CRE – October 3
GI Partners has purchased three life sciences lab buildings in South San Francisco and San Carlos. The company purchased the “Peninsula Lab Collection” from Alexandria Real Estate for a combined total of $388 million. The properties are currently 100% leased.
SiliconValley.com – September 16
A huge mixed-use development in South San Francisco next to the San Bruno BART station has landed final city approvals. Southline, a project being developed by an alliance of Bay Area development firm Lane Partners and a real estate unit of Goldman Sachs, will include 2.8 million square feet of office, research, and laboratory space.
The Mercury News – September 20
An affiliate of Chicago-based LaSalle Investment Management has purchased two Fremont office buildings for $80.5 million in a sign that real estate investors still hunger for tech and biotech properties in Silicon Valley. BioMed Realty, a San Diego-based real estate investment trust that focuses on properties geared toward biotech and life sciences tenants, sold both Fremont buildings, county records show.
Commercial Property Executive – September 19
LPC West and Intercontinental Real Estate Corp. are adding another life science building to their Seattle office portfolio. The partnership has closed on a property that will be developed into a nine-story office building with spaces primarily aimed at life science tenants. The Class A building is still in the early design stages but is expected to offer approximately 195,000 square feet.
Urbanize Los Angeles – September 28
Health care developers NexCore Group and Hatchspaces have completed work on a new project which has transformed a nondescript office building in Irvine into a purpose-built life sciences facility. The two-story structure features approximately 39,000 square feet of wet lab space, much of which is already leased.
Biopharma Dive – September 20
Johnson & Johnson unveiled a new research and development facility in the San Francisco Bay Area, aiming to expand its presence in one of the top biotechnology hubs in the U.S. The new facility, a 200,000-square-foot campus located in Brisbane, is meant to be the “main site” for J&J’s R&D in the Bay Area, said James Merson, the site head of the campus and leader of infectious disease work at its Janssen subsidiary.
