BioMed Realty Announces 300,000 Square Feet Long-term Lease at Emeryville Center of Innovation Campus
SAN DIEGO--(BUSINESS WIRE)-- BioMed Realty, a leading provider of real estate solutions for the life science industry, announced today that it has executed a 12-year lease with Zymergen for 300,000 square feet at Emeryville Center of Innovation. BioMed Realty will invest capital to transform the existing asset into a dynamic and innovative Class A environment for Zymergen’s new headquarters location. Zymergen is a leading science and material innovation company and one of the largest employers in Emeryville.
“We are thrilled to welcome the team at Zymergen to their new home at the Emeryville Center of Innovation,” said Denis Sullivan, EVP and Chief Investment Officer of BioMed Realty. “We are incredibly proud of our work in developing mission critical buildings and hubs that are helping to advance life science products. The signing of this lease within six months of our original acquisition demonstrates the thriving innovation ecosystem within Emeryville, and we look forward to committing additional capital to this core life science location.”
This transaction brings BioMed Realty’s total leased space in the Bay Area to over 3.8 million square feet and highlights the sustained success of California’s life science and biotech industry that is tied to vast talent and innovation across the state.
“As evidenced by this recent leasing activity, we believe that the Emeryville Center of Innovation campus is now one of the most compelling destinations for the next generation of technology-based companies in the Bay Area,” said Jon Bergschneider, EVP and Chief Development Officer of BioMed Realty. “This transaction both validates and accelerates our plans, in partnership with the City of Emeryville, to develop additional purpose-built lab space to further support the growth of the life science industry.”
“Zymergen creates never-before imagined products and materials and is driving a clear strategy to provide a more vibrant, sustainable future for our planet,” said Enakshi Singh, VP of Finance at Zymergen. “In working with a number of Fortune 500 companies across industries as diverse as consumer electronics, personal care, agriculture and healthcare, we use biology and technology to not just change the way stuff is made, but to change stuff itself.”
The Emeryville Center of Innovation campus is within walking distance to downtown Emeryville and the Public Market and is adjacent to a variety of amenities including retail, dining, hospitality and entertainment.
To learn more about BioMed Realty and the Emeryville Center for Innovation visit biomedrealty.com.
About BioMed Realty
Founded in 2004, and a Blackstone portfolio company since 2016, BioMed Realty owns and operates high-quality life science real estate comprising 11 million square feet located in the leading innovation markets throughout the United States and United Kingdom, led by Boston-Cambridge, San Francisco, San Diego, Seattle, New York and Cambridge, U.K. In addition, BioMed Realty maintains a premier development pipeline with over two million square feet of Class A properties in active construction to meet the growing demand of the life science industry. With over 200 tenant partners, BioMed Realty provides real estate solutions for global enterprises, established biotechnology and innovation companies, leading universities and premier research institutions. Follow us on Twitter @biomedrealty.
Source: BioMed Realty