Deals
SteelWave to build $241M life science campus in Berkeley
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.
GI Partners acquires trio of Peninsula life science assets for $388M
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.
Big transit-oriented complex pushes ahead in South San Francisco
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.
Large Fremont tech buildings land Chicago buyers in $80.5 million deal
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.
LPC West, Intercontinental to develop Seattle life science building
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.
New life sciences complex debuts at 3 Burroughs in Irvine
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.
J&J opens new research hub near San Francisco
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.
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