srmERNST/Hillwood JV Signs 127K SF Lease for Alameda Development

A JV of Oakland, CA-based developer srmERNST Development Partners and Hillwood has signed a 15-year lease with Penumbra Inc. at their South Loop Development in the Harbor Bay Business Park at 1310 Harbor Bay Parkway in Alameda, CA.

The 126,700-square-foot space will include offices, an outdoor courtyard, a conference center, a campus café/coffee bar, and 391 parking spaces.

The space is an expansion move for Penumbra, and offers easy access by car, shuttle, or ferry, as well as being in close proximity to the airport and freeway. The new facility is estimated to bring several hundred new jobs to Harbor Bay Business Park when development is completed, targeting early 2021.

According to Joe Ernst, President at srmERNST, “With two other R&D spec buildings available for lease or sale near this site, we look forward to the active transformation of this area.”

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