1350 South Loop. Picture courtesy of Newmark
Biopharmaceutical firm Vivani has signed a full-building lease to occupy 43,645 sq. ft at 1350 South Loop, a Class A life science constructing inside the Radius @ Harbor Bay campus in Alameda, Calif.
Newmark Managing Administrators Ari Rokeach and Conor Ranahan brokered the deal on behalf of the possession, a partnership between Paceline Traders and True North Administration Group.
Just lately transformed right into a life science facility on a speculative foundation, 1350 South Loop consists of 60 p.c lab and 40 p.c workplace area. The one-story property options 14-foot clear heights, new HVAC for lab areas, a backup energy generator, in addition to room for out of doors tools.
The spec labs embody tools rooms, single go air, flooring drains, fume hoods and lab benches. A big flex lab space can be custom-made to help a chemistry lab, biology lab, pilot plant or lab help.
READ ALSO: Life Science Property Preserve Lasting Attraction
The almost 700,000-square-foot Radius @ Harbor Bay campus is a part of the rising Harbor Bay life science hub, anchored by Abbott Laboratories, Exelixis and Penumbra. Positioned close to the Harbor Bay Parkway, the campus is accessible by ferry, providing connectivity to downtown San Francisco and the San Francisco Worldwide Airport.
Regular growth of the life science sector
A current Newmark report reveals that the Bay Space’s life science hub maintains its place because the second most essential cluster within the U.S., attributable to greater than 33 million sq. ft of lab area, excessive tenant demand and strong enterprise capital networks. Within the first half of 2022, healthcare and life science enterprise capital funding within the Bay Space rose by 19.3 p.c in comparison with the identical interval in 2021.
Vivani’s lease is proof of the submarket’s attractiveness and the heightened demand for built-out lab areas, which permits corporations to avoid wasting on capital expenditures and velocity up occupancy, stated Rokeach in a ready assertion. The rising reputation of Alameda as a life sciences submarket is according to the flight-to-quality development current within the present market, he added.
