Peninsula Campus Provides Barings with Multiple Execution Strategies
The Bay Area life science market is the second largest in the U.S. behind Cambridge, MA. As this sector continues to grow, tenants are looking for next generation space such as the likes of Peninsula Innovation Point.
Barings recently acquired the 275,746-square-foot office campus at 555-577 Airport Blvd. in Burlingame. Peninsula Innovation Point provides Barings with multiple execution strategies to maximize the portfolio’s value proposition.
The campus consists of three components – an existing 126,419-square-foot office building that will be converted to either life science or specialized technology space, a pad to develop 260,255 square feet of specialized lab and tech-oriented office space, and a 149,327-square-foot office building that will undergo improvements to drive further appreciation.
Barings believes there is strong value in the specialty office sector due to the need for amenity-rich assets with a focus on health, wellness and collaboration space. This is reinforced by tailwinds in the life science sector driven by an aging population, technological advancements and surging healthcare investments. “Life science and technology tenants require unique physical space that many existing buildings are unable to satisfy – the specific market locations and properties we are targeting are anything but commodity,” said Joe Gorin, head of U.S. real estate acquisitions and portfolio management for Barings. “This transaction is emblematic of our targeted investment thesis that revolves around innovative markets that attract skilled workers, and dynamic life science and technology companies.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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