The San Francisco Business Times' annual Real Estate Deals of the Year hit the streets Friday. Here are the life sciences-related real estate stories stories:
Best new R&D
UCSF stem cell research building
Near the base of Mount Sutro and behind the jam-packed medical towers of UCSF’s Parnassus Avenue campus, there was no hiding the complexity of designing and constructing a $123 million stem cell research building on a hillside.
Arching over the entire project, too, was the timetable set by the California Institute for Regenerative Medicine, which jumpstarted the project with $34.9 million of state bond money: 24 months to go from schematic design to work-ready occupancy.
Best new R&D (finalist)
Stanford stem cell research building
Stanford University is coming together over stem cells.
The university’s $225 million, 200,000-square-foot stem cell research center — the nation’s largest such facility — will house 550 researchers, ranging from those studying developmental biology and immunology to those concentrating on cancer and neuroscience.
Best R&D Sale/Lease
BioMed Realty Trust bought Chamberlin Associates' high-profile Science Center at Oyster Point and Gateway Business Park in October — a potential 1.2 million square feet in the heart of the biotech industry, South San Francisco — for $290.3 million cash and an interest rate swap liability of $7.7 million.
Best R&D Sale/Lease (finalist)
Bayer U.S. Innovation Center
Salesforce.com is moving in, but the heart of San Francisco’s Mission Bay remains life sciences research and development.
In a building originally intended for Pfizer Inc., the world’s largest drug maker, landlord Alexandria Real Estate Equities Inc. has essentially filled it with up-and-coming Nektar Therapeutics Inc. and longtime international player Bayer.
The Bayer deal was sealed in May 2010 for 48,913 square feet in the east wing of the 210,000-square-foot structure.
Best Steal (finalist)
Onyx Pharmaceuticals Inc. landed the grand slam of headquarters: a competitive price, room to grow and a spot among the more than two dozen other biotechs in South San Francisco. The 170-person cancer drug company moves in April.
Best Financial (finalist)
UCSF neuroscience building
The University of California San Francisco turned to the traditional lease-back deal to build its Neuroscience Building at Mission Bay, but it re-invented it for its own needs.