REDWOOD CITY, CALIF. — The Chan Zuckerberg Initiative (CZI), one of the largest philanthropies supporting biomedical research and AI-driven science, has signed a 225,000-square-foot life sciences lease in Silicon Valley. The company will fully occupy one of four buildings at IQHQ Inc.’s Elco Yards mixed-use development underway in Redwood City, roughly 25 miles south of San Francisco. Situated along the Caltrain corridor on the San Francisco Peninsula, Elco Yards is a 670,000-square-foot mixed-use development that comprises four buildings offering lab, office and retail space. The project, which began construction in 2021, will deliver additional phases between mid-2025 and 2026. CZI is expected to officially occupy its newly leased space in 2027. The deal brings Elco Yards to 30 percent preleased, according to IQHQ. Founded by Dr. Priscilla Chan and Facebook founder Mark Zuckerberg in 2015, CZI’s purpose is to eradicate disease, improve education and address the needs of local communities, while building a more “inclusive, just and healthy future for everyone,” according to the company’s mission statement. “We are excited to continue to grow our roots in Redwood City with this new space for our biomedical research efforts,” says Marc Malandro, chief operating officer of CZI and the CZ Biohub …
