{"id":1004566873,"date":"2022-02-09T11:25:49","date_gmt":"2022-02-09T19:25:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004566873"},"modified":"2022-12-08T21:17:28","modified_gmt":"2022-12-09T05:17:28","slug":"bay-area-life-sciences-campus-sells-for-190m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bay-area-life-sciences-campus-sells-for-190m\/","title":{"rendered":"Bay Area Life Science Campus Sells for $190M"},"content":{"rendered":"
\"\"

120-150 Industrial Road<\/p><\/div>\n

A joint venture of BentallGreenOak<\/strong> and Graymark Capital<\/strong> bought a 230,000-square-foot life sciences office building in San Carlos, Calif., for $190 million, The Mercury News<\/em> first reported. KREF Capital<\/strong> provided the buyers with a total of $195 million in acquisition financing. Graymark was also part of the seller partnership, alongside Nuveen<\/strong>, according to The Real Deal<\/em>.<\/p>\n

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READ ALSO: <\/strong>Bay Area Campus Commands $78M<\/a><\/p>\n

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The sellers acquired the property for $99 million in 2019, when the property, Graymark\u2019s first life science acquisition on the Peninsula, was 100 percent leased to Mylan Pharmaceuticals<\/strong>, according to CommercialEdge data. Last fall, Mylan Pharmaceuticals merged with Upjohn, a division of Pfizer, to form Viatris, and are now headquartered in Cannonsburg, Pa.<\/p>\n

Originally built in 1957, the two-story building at 120-150 Industrial Road is within a half mile from Interstate 101. The property has 230 grade-level parking spaces in a 1 per 1,000 square feet parking ratio. In 2019, eight new electric charging stations were installed in the parking lot.<\/p>\n

Also active in other markets, BentallGreenOak acquired 355 Horace Head Road<\/a>, a 1 million-square-foot bulk distribution warehouse in Jefferson, Ga., in October of last year. The transaction was valued at $78.7 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Since its last trade, the property\u2019s sale price has almost doubled.<\/p>\n","protected":false},"author":3142,"featured_media":1004566874,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1609,15],"tags":[46487,47936,32883],"class_list":["post-1004566873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-san-francisco","category-west","tag-bentallgreenoak","tag-graymark-capital","tag-kkr"],"acf":[],"yoast_head":"\nBay Area Life Science Campus Sells for $190M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"A joint venture between BentallGreenOak and Graymark Capital bought a Bay Area life sciences office property for $190 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bay-area-life-sciences-campus-sells-for-190m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bay Area Life Science Campus Sells for $190M\" \/>\n<meta property=\"og:description\" content=\"A joint venture between BentallGreenOak and Graymark Capital bought a Bay Area life sciences office property for $190 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bay-area-life-sciences-campus-sells-for-190m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-09T19:25:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:17:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/120-150-Industrial-Road-e1644421380481.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anda Rosu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bay-area-life-sciences-campus-sells-for-190m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bay-area-life-sciences-campus-sells-for-190m\/\",\"name\":\"Bay Area Life Science Campus Sells for $190M - 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