BioMed Realty Wins Municipal Approval for 910,000 SF Expansion of Life Sciences Campus in Bay Area
EMERYVILLE, CALIF. — The City of Emeryville in Northern California’s Bay Area has approved BioMed Realty’s proposal to expand its Emeryville Center of Innovation life sciences campus. The 12-acre property is located about four miles north of Oakland and 10 miles east of San Francisco.
The expansion will add 910,000 square feet of Class A laboratory and office space to the development. Phase I of the expansion, which BioMed Realty expects to begin in 2022, will span 265,000 square feet.
“We are grateful for our partnership with the City of Emeryville to develop purpose-built lab research facilities that support the growth of the industry and help our business partners attract and retain talent,” says Salil Payappilly, vice president of BioMed Realty.
BioMed Realty is currently modernizing an existing 303,000-square-foot building at Emeryville Center of Innovation. The building, which is not part of the newly announced expansion, will be fully occupied by Zymergen Inc., a biomanufacturing company and Emeryville’s largest employer. Zymergen signed a lease in 2019 for its new corporate headquarters and to accommodate the expansion of its operations. BioMed Realty expects to complete Zymergen’s building in early 2023.
Emeryville Mayor Dianne Martinez says that the origin of the life sciences campus dates back to 1995, and that the city’s decision will honor and continue its legacy of housing medical and biotechnological advancements.
“The impact of the Emeryville Center of Innovation within our community is significant,” says Martinez. “This campus will lead to jobs and create a positive economic impact for our region. The vital research and development that will be done here will lead to positive outcomes around the world.”
Emeryville Center of Innovation is home to two life sciences companies that recently received two Nobel Prizes, one in chemistry and the other in medicine. The names of the firms were not disclosed, but BioMed Realty says their work at the campus led directly to the honors.
BioMed Realty considers Emeryville Center of Innovation as a “flagship” asset in its portfolio.
“We believe the Emeryville Center of Innovation campus is one of the most compelling destinations for the next generation of life science and technology companies in the Bay Area,” says Payappilly.
Emeryville Center of Innovation is within walking distance of the Bay Street shopping area, The Public Market and several amenities including retail, dining, hospitality and entertainment. In addition to research and development space, the campus includes three acres of green space that is open to the public.
BioMed Realty is headquartered in San Diego and is a private subsidiary of global asset management giant Blackstone (NYSE: BX). The New York City-based company recently recapitalized BioMed Realty for a total valuation of $14.6 billion.
BioMed Realty owns and operates 13 million square feet of life sciences real estate in clusters around the country, including Boston, San Francisco, San Diego and Seattle, as well as significant holdings in Cambridge, England. The firm currently has 3 million square feet of life sciences space under development.
— John Nelson