Emeryville Bioscience Center Offers Immediate Conversion of Lab Space

Emeryville continues to grow as a life science cluster with more than 150 companies in the biotech field and current tenant demand of 448,000 square feet across 18 requirements, making it one of the highest concentrations in California. To be sure, Emeryville has become one of the most desired locations for Bay Area life science tenants and top leasing markets in the Bay Area, according to Newmark research.

The growing supply and demand imbalance in Emeryville are putting significant upward pressure on rents as tenants compete for limited available product. Current life science asking rents in Emeryville have broken through the $6.00 NNN threshold, says Newmark.

A long-term ground lease of fully vacant Emeryville Bioscience Center provides the immediate ability to convert and deliver lab space in this severely supply-constrained market. Located at 1650 65th St. in Emeryville’s rapidly growing life science cluster, Emeryville Bioscience Center offers direct access to the East Bay’s institutional life science drivers. The 127,818-square-foot building is primed for quick lease-up execution with life science conversion plans already in place and base building work already underway.

Newmark’s Steven Golubchik, Jonathan Schaefler, Darren Hollak and Jack Phipps represented the seller, PSAI Realty Partners, in a recent transaction to buyer, Longfellow Real Estate Partners.

“Emeryville Bioscience Center presents the exceedingly rare opportunity to acquire a blank slate life science conversion with the immediate ability to provide lab space to a severely supply-constrained market,” said Golubchik.

Emeryville Bioscience Center is attractive for a life science conversion with 20-foot clear heights, 60 by 60-foot column spacing, 6,000 amps of power and a flexible floorplan that can cater to various lease-up scenarios. In addition, the property is currently undergoing an extensive base-build upgrade which includes a glass-roofed atrium, an improved exterior facade and a new main lobby.