BioMed Realty, a Blackstone portfolio company, has received development approval from the City to expand its Emeryville Center of Innovation campus.
Plans for the 12-acre campus include 910,000 square feet of new Class A lab and office space, with the initial phase encompassing 265,000 square feet scheduled to break ground in 2022.
“We believe the Emeryville Center of Innovation campus is one of the most compelling destinations for the next generation of life science and technology companies in the Bay Area,” said Salil Payappilly, Vice President at BioMed Realty.
“We are proud of our work to develop mission-critical buildings and ecosystems that accelerate innovation. We are grateful for our partnership with the City of Emeryville to develop purpose-built lab research facilities that support the growth of the industry and help our business partners attract and retain talent,” he added.
Previously, this address was headquarters to life science companies conducting research that led directly to two Nobel Prize Awards, one in Chemistry and one in Medicine.
“This is a legacy project that was first envisioned by our city’s leadership in 1995. BioMed Realty is a global leader in developing life science commercial real estate and this investment will honor Emeryville’s long history of scientific discovery. This campus will lead to jobs and create a positive economic impact for our region. The vital research and development that will be done here will lead to positive outcomes around the world,” said Emeryville Mayor Dianne Martinez.
One of Emeryville’s largest employers, Zymergen Inc. signed a lease in 2019 for 100% of the existing research building on the campus to serve as its new corporate headquarters and to accommodate the expansion of its operations.
BioMed Realty is investing significant capital to transform this 303,000-square-foot asset into an updated and innovative Class A facility that is scheduled to be completed in early 2023.
The campus is within walking distance of Emeryville’s Bay Street shopping area, the Public Market, and a variety of amenities including retail, dining, hospitality and entertainment.
The campus includes three acres of green space that is open to the public, allowing for accessibility to the neighborhood and integration with the community.