By Razvan Cimpean
Corbion signed a 51-month, 32,355-square-foot lease at the South Tower of Genesis, a two-building, 717,000-square-foot research and development/office campus in South San Francisco. The new tenant is set to relocate approximately 50 employees into the space at the beginning of November. The first phase of Genesis is now 100 percent occupied.
Located at 1 Tower Place, the 324,986-square-foot asset sits less than a mile from Highway 101 and three miles from Interstate 380. South Tower also offers convenient access to multiple bus stations, restaurants and hotels, including Amoura Restaurant, Courtyard by Marriott and DoubleTree by Hilton. Completed in 2009, the Class A building underwent a complete renovation in 2016. Previously known as Centennial Towers, the 12-story property features nearly 14,000 square feet of retail space and roughly 1,000 parking spaces.
The owner, Phase 3 Real Estate Partners, was represented by company representative Becka Studer and Newmark Cornish & Carey’s Jay Leslie, Randy Scott, Mary Hines and Jennifer Vergara.
According to Yardi Matrix data, Phase 3 acquired the asset in 2015 from Myers Development Co. for $162 million. Earlier this year, the landlord secured the construction loan for the second phase of Genesis, a 21-story building.
Image courtesy of Newmark Knight Frank