{"id":1004745359,"date":"2025-02-03T05:23:51","date_gmt":"2025-02-03T13:23:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004745359"},"modified":"2025-02-03T07:13:05","modified_gmt":"2025-02-03T15:13:05","slug":"chan-zuckerberg-institute-lease-boosts-bay-areas-biotech","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chan-zuckerberg-institute-lease-boosts-bay-areas-biotech\/","title":{"rendered":"Chan Zuckerberg Institute Lease Boosts Bay Area&#8217;s Life Science Sector"},"content":{"rendered":"\n<p>The San Francisco Bay Area life science sector got a boost as The Chan Zuckerberg Institute for Advanced Biological Imaging signed a major lease at Elco Yards in Redwood City, Calif.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Elco-Yards-Redwood-City.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"801\" height=\"619\" data-attachment-id=\"1004556437\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/iqhq-acquires-site-for-bay-area-life-science-project\/elco-yards-redwood-city\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Elco-Yards-Redwood-City.jpg\" data-orig-size=\"801,619\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Elco Yards, Redwood City\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Elco Yards. Image courtesy of IQHQ Inc.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Elco-Yards-Redwood-City.jpg?w=801\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Elco-Yards-Redwood-City.jpg?w=801\" alt=\"Elco Yards, Redwood City\" class=\"wp-image-1004556437\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Elco-Yards-Redwood-City.jpg 801w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Elco-Yards-Redwood-City.jpg?resize=300,232 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Elco-Yards-Redwood-City.jpg?resize=768,593 768w\" sizes=\"auto, (max-width: 801px) 100vw, 801px\" \/><\/a><figcaption class=\"wp-element-caption\">The Chan Zuckerberg Institute for Advanced Biological Imaging will occupy one of Elco Yards\u2019 four buildings in Redwood City, Calif. <em>Image courtesy of IQHQ Inc.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The 226,000-square-foot transaction worth roughly $375 million closed in late December. It is one of the largest biosciences transactions in the Peninsula market and the largest new lease overall in San Mateo County, the <em>San Francisco Business Times<\/em> reported.<\/p>\n\n\n\n<p>The deal comes at a time when the life science market in the Bay Area is struggling with job cuts and an industry slowdown.<\/p>\n\n\n\n<p>WRNS Studio designed Elco Yards, which sits at the edge of downtown along the Caltrain corridor.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield\u2019s Ben Paul, Mike Courson, with Newmark, and Matt Germino, with CBRE, represented Chan Zuckerberg in lease negotiations. Paul will handle marketing.<\/p>\n\n\n\n<p>CZI is an entity formed by Meta Platforms CEO Mark Zuckerberg and his wife, Priscilla Chan.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/life-science-trends-to-watch-in-2025\/\">Life Science Trends to Watch in 2025<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The asset\u2019s top-quality microscopes were a key reason for CZI\u2019s decision, as they could help the company better understand how cancer cells influence tumor growth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-lay-of-the-land\">Lay of the land<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/iqhq-acquires-site-for-bay-area-life-science-project\/\">IQHQ acquired Elco Yards<\/a> from Greystar in November 2021. The surroundings include about 670,000 square feet of life science and office space and hundreds of planned residential units within 8 acres.<\/p>\n\n\n\n<p>CZI occupies one of Elco Yards\u2019 four buildings, each averaging over 200,000 square feet. The organization recently completed a 111,000-square-foot expansion at its nearby headquarters. The company\u2019s mission is to study and eradicate human disease.<\/p>\n\n\n\n<p>Redwood City is home to several life science companies.<\/p>\n\n\n\n<p>iO Life Science is a virtual incubator for medtech inventors, early-stage startups and entrepreneurs. It provides resources and expertise to help fast-track innovations from ideation to commercialization.<\/p>\n\n\n\n<p>Redwood LIFE is an innovation-focused environment with lab space and amenities that inspire collaboration and breakthroughs.<\/p>\n\n\n\n<p>180 Life Sciences is dedicated to addressing pathological inflammation and developing therapeutics to treat diseases caused by inflammation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal comes as the local biotech industry struggles with job cuts and a market slowdown.<\/p>\n","protected":false},"author":3568,"featured_media":1004556437,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742,21747,1609,15],"tags":[32789,52547,32799,48695],"class_list":["post-1004745359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest","category-office","category-san-francisco","category-west","tag-cbre","tag-chan-zuckerberg-institute","tag-cushman-wakefield","tag-iqhq"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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