BioMed Realty, a leading provider of real estate solutions for the life science industry, recently announced that it had signed Zymergen for a 12-year lease at the Emeryville Center of Innovation. The lease encompasses 300,000 square feet—the entire office property at 5300 Chiron Way—and will serve as Zymergen’s headquarters.
Denis Sullivan, executive vice president and chief investment officer with BioMed, stated that the company was thrilled to welcome the Zymergen team to their new home and the Center of Innovation.
“We are incredibly proud of our work in developing mission-critical buildings and hubs that are helping to advance life science products,” Sullivan said. “The signing of this lease within six months of our original acquisition demonstrates the thriving innovation ecosystem within Emeryville, and we look forward to committing additional capital to this core life science location.”
BioMed purchased the property earlier this year for $135 million in a sale-leaseback transaction that also included adjacent developable parcels. At the time of sale, the company presented its plans to enhance the extra acreage gradually, offering in excess of 1 million square feet of space to innovative clients in biotech and other laboratory industries.
For the time being, the owner plans to invest in transforming the Bay Area office property into a class A, state-of-the-art laboratory and office space with integrated tenant amenities. This transaction brought the total BioMed lease space in the Bay Area to more than 3.8 million square feet.
Jon Bergschneider, also executive vice president with BioMed Realty, added, “As evidenced by this recent leasing activity, we believe that the Emeryville Center of Innovation campus is now one of the most compelling destinations for the next generation of technology-based companies in the Bay Area. This transaction both validates and accelerates our plans, in partnership with the City of Emeryville, to develop additional purpose-built lab space to further support the growth of the life science industry.”