November 18, 2022
CBRE announced the lease of 1410 Harbor Bay Parkway in Alameda, a 100,000 sq. ft. life science building at The Loop in Alameda, CA., to one of the Bay Area’s top publicly-traded biotech firms. The newly leased building is the largest of the six-building business park totaling approximately 332,000 sq. ft.
Mark Kol, Mike Raffetto and Austin Hinder of CBRE represented the building owner, Invesco Real Estate, a global real estate investment manager, along with their operating partner SRM Partners. Gregg Domanico of Kidder Mathews represented the tenant.
The Class A life science facility at 1410 Harbor Bay Parkway is newly built to the latest seismic codes with 100% clean power, dock and grade-level loading, and ample employee parking.
“The momentum at The Loop has fueled the growth of life sciences and STEM in Alameda. The Loop’s proximity to leading research institutions and Bay Area life science hubs allows tenants to draw on the region’s pool of talent across tech and life science sectors,” said Mike Raffetto of CBRE.
The Loop at Harbor Bay in Alameda is a six-building business park totaling approximately 332,000 sq. ft. Completed in 2021, The Loop is one of Alameda’s newest properties approved for life sciences, advanced manufacturing and STEM-related uses. Now 80% leased, there are just two remaining buildings available for lease at The Loop with speculative build-outs underway. Other tenants at the Loop include Azzur Cleanrooms on Demand and SentiBio, located adjacent to Penumbra and Abbott Diabetes.
“The Loop at the Harbor Bay Business Park in Alameda provides a community for lab/R&D and Current Good Manufacturing Practices (CGMP) tenants looking for space where they can put down roots with room to grow in the inner-Bay area. Invesco Real Estate and its local partner SRM are excited about this most recent lease and the spec projects underway as further evidence of the success of Harbor Bay Business Park as a thriving life science community,” said Shannon Aquino, Director, Investment Management with Invesco Real Estate.
Demand for Class A life science facilities in the San Francisco Bay Area is among the highest in the nation, fueled by the growth of life science research talent and strong pipeline of venture capital funding, according to CBRE. In the third quarter of 2022, lab/R&D space in the Oakland submarket had the second lowest vacancy rate in the region (5.7%) and third highest average asking rent ($65.28).
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE