{"id":1004694922,"date":"2023-12-20T04:00:16","date_gmt":"2023-12-20T12:00:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004694922"},"modified":"2023-12-20T06:21:08","modified_gmt":"2023-12-20T14:21:08","slug":"healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/","title":{"rendered":"Healthpeak to Add 1.3 MSF to Bay Area Life Science Campus"},"content":{"rendered":"
\"The<\/a>

The Vantage campus is taking shape next to Genentech’s headquarters. Image courtesy of Healthpeak Properties<\/em><\/p><\/div>\n

Healthpeak Properties<\/strong> has received approval of entitlements for the second and third phases of Vantage, its life science campus underway in South San Francisco, Calif. The development is expected to grow by some 1.3 million square feet and reach approximately 1.7 million square feet at full buildout.<\/p>\n

Healthpeak broke ground on the first phase of the 20-acre project<\/a> in 2022 and completed it earlier this year. Flad Architects<\/strong> designed the two build-to-suit properties measuring roughly 343,000 square feet, together with a 40,000-square-foot amenity building that includes multiple dining options, conference space and a fitness center.<\/p>\n

\n

READ ALSO:<\/strong> Life Science Market to Bounce Back<\/a><\/p>\n

\n

The LEED Gold-certified buildings feature five and six stories with floorplates averaging 35,000 square feet. Those properties are 52 percent leased to Astellas Pharma<\/strong>\u2014a Japanese pharmaceutical company\u2014which occupied its space this month.<\/p>\n

Phases II and III will rise on Forbes Boulevard, providing access to downtown San Francisco\u2019s amenities. A host of dining and retail options, including The Shops at Tanforan, will be within 3 miles, while San Francisco International Airport will be some 4 miles south.<\/p>\n

In October, Healthpeak Properties entered into a definitive agreement with Physicians Realty Trust to combine in an all-stock merger<\/a>. Valued at $21 billion, the new company will own a 52 million-square-foot portfolio of health-care facilities.<\/p>\n

The Golden City\u2019s life science developments<\/h2>\n

In the beginning of the year, Lane Partners received $373 million in financing for the construction of the first phase of a mixed-use, life science development<\/a> that is set to encompass some 3 million square feet upon full buildout. Tenants at the $1 billion property that is some 2 miles away from Vantage are expected to move in by the end of 2024.<\/p>\n

In May, a joint venture between Trammell Crow Co. and CBRE Investment Management broke ground on a 234,000-square-foot life science project<\/a> in Redwood City, Calif. The Class A building is slated for delivery at the end of next year.<\/p>\n

San Francisco’s office market holds steady<\/h2>\n

The San Francisco metro had some 6 million square feet of office space under construction as of October, amounting to 3.8 percent of total stock, according to a CommercialEdge report<\/a>. The Golden City was surpassed by Boston and Seattle, which had development pipelines of 13.7 million and 6.6 million square feet, respectively.<\/p>\n

In terms of sales, San Francisco saw $643 million in assets changing hands, for an average of $336 per square foot. Recent transactions in the area include Rubicon Point Partners\u2019 purchase of The Townsend Building<\/a>. CBRE Investment Management sold that property for $72 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

At full buildout, this project will comprise some 1.7 million square feet.<\/p>\n","protected":false},"author":3355,"featured_media":1004694934,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21742,21747,1609,15],"tags":[52119,48302],"class_list":["post-1004694922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-latest","category-office","category-san-francisco","category-west","tag-astellas-pharma","tag-healthpeak-properties"],"acf":[],"yoast_head":"\nHealthpeak to Add 1.3 MSF to Bay Area Life Science Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Healthpeak Properties has received approvals to add 1.3 million square feet to Vantage, life science campus in South San Francisco, Calif.\" \/>\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\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Healthpeak to Add 1.3 MSF to Bay Area Life Science Campus\" \/>\n<meta property=\"og:description\" content=\"Healthpeak Properties has received approvals to add 1.3 million square feet to Vantage, life science campus in South San Francisco, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/\" \/>\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=\"2023-12-20T12:00:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-20T14:21:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Vantage-Campus.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/\",\"name\":\"Healthpeak to Add 1.3 MSF to Bay Area Life Science Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Vantage-Campus.jpg\",\"datePublished\":\"2023-12-20T12:00:16+00:00\",\"dateModified\":\"2023-12-20T14:21:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Healthpeak Properties has received approvals to add 1.3 million square feet to Vantage, life science campus in South San Francisco, Calif.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Vantage-Campus.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Vantage-Campus.jpg\",\"width\":2000,\"height\":1500,\"caption\":\"The Vantage Campus is being constructed next to Genentech\u2019s 20-acre headquarters. Image courtesy of Healthpeak Properties\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Healthpeak to Add 1.3 MSF to Bay Area Life Science Campus\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\",\"name\":\"Vicentiu Fusea\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"caption\":\"Vicentiu Fusea\"},\"description\":\"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Healthpeak to Add 1.3 MSF to Bay Area Life Science Campus - Commercial Property Executive","description":"Healthpeak Properties has received approvals to add 1.3 million square feet to Vantage, life science campus in South San Francisco, Calif.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/","og_locale":"en_US","og_type":"article","og_title":"Healthpeak to Add 1.3 MSF to Bay Area Life Science Campus","og_description":"Healthpeak Properties has received approvals to add 1.3 million square feet to Vantage, life science campus in South San Francisco, Calif.","og_url":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-12-20T12:00:16+00:00","article_modified_time":"2023-12-20T14:21:08+00:00","og_image":[{"width":2000,"height":1500,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Vantage-Campus.jpg","type":"image\/jpeg"}],"author":"Vicentiu Fusea","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/","url":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/","name":"Healthpeak to Add 1.3 MSF to Bay Area Life Science Campus - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Vantage-Campus.jpg","datePublished":"2023-12-20T12:00:16+00:00","dateModified":"2023-12-20T14:21:08+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412"},"description":"Healthpeak Properties has received approvals to add 1.3 million square feet to Vantage, life science campus in South San Francisco, Calif.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Vantage-Campus.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Vantage-Campus.jpg","width":2000,"height":1500,"caption":"The Vantage Campus is being constructed next to Genentech\u2019s 20-acre headquarters. Image courtesy of Healthpeak Properties"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/healthpeak-to-add-1-3-msf-to-bay-area-life-science-campus\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Healthpeak to Add 1.3 MSF to Bay Area Life Science Campus"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412","name":"Vicentiu Fusea","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","caption":"Vicentiu Fusea"},"description":"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Vantage-Campus.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004694922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3355"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004694922"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004694922\/revisions"}],"predecessor-version":[{"id":1004695144,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004694922\/revisions\/1004695144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004694934"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004694922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004694922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004694922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}