Bay Area Adding to Healthy Calif. Life-Sciences Market Activity

The march of life-sciences activity is spiking across California – not just in the San Diego area (reported here). In Redwood City, Calif., two large office campus have been recently purchased, adjacent to one another.

First, the newest deal: Center Capital Partners is paying $82.8 million for a three-building office park at the prime Redwood City Lagoons. The 144,000-square-foot office campus is located along Twin Dolphin Drive, near 100 Marine Parkway – areas also situated near both Google and Oracle office complexes.

Center Capital has not made any plans for the acquired property, but with expertise as a major redeveloper of commercial properties, this new space is in its swing zone.

Previously, life science-focused REIT, IQHQ paid $164 million for a vacant office building and an adjacent parking lot on Twin Dolphin Drive. ​​“We see potential for the 15-acre site to meet the region’s growing demand for new lab and office space,” IQHQ President Tracy Murphy said in a statement.