Advanced Manufacturing Park Targets Bay Area’s Booming Life Sciences Sector
OAKLAND, Calif. – CBRE announced that Azzur Group has leased two buildings at the Loop at Harbor Bay in Alameda, Calif. The life science company will occupy approximately 76,300 sq. ft. at 1955 and 2065 North Loop Rd.
Mark Kol, Mike Raffetto and Austin Hinder with CBRE’s Oakland office represented the building owner, Invesco.
“We are pleased to welcome Azzur Group to the Loop at Harbor Bay in Alameda. They are a phenomenal addition to the project and will help continue the momentum that Alameda and the Harbor Bay Business Park are experiencing as it relates to the growth of the life science and STEM community,” said Mr. Kol, executive vice president, CBRE.
Completed in 2021, the Loop at Harbor Bay is a six-building business park totaling approximately 332,000 sq. ft. The park was developed to accommodate life science companies as they transition from the lab into pilot manufacturing and commercialization. Other tenants at the park include Exelixis, Abbott Diabetes Care, Penumbra and SentiBio.
“Biomanufacturing and STEM companies often want to control their manufacturing and production process as they expand to their next stage of growth. The Loop at Harbor Bay streamlines the process with state-of-the-art buildings, ample capital available for tenant improvements, and sophisticated ownership that understands the complexities of the life science, STEM and advanced manufacturing sectors,” added Mr. Kol.
Life sciences employment in the Bay Area increased 5.6 percent between 2019 and 2020, the highest growth rate among the nation’s largest life sciences clusters, according to CBRE’s U.S. Life Sciences Trends 2021 report. The Bay Area is now home to the largest life sciences workforce in the nation with 129,000 jobs. Venture-capital funding for U.S. life sciences companies exceeded $30 billion, the most on record, in the 12 months ended in September. Over 20 percent of that funding ($6.7 billion) went to companies in the Bay Area, a record high.
Life science and advanced manufacturing companies have specific facility needs that are available at the Loop at Harbor Bay, including ample power, high clear heights, grade and dock loading, the most recent seismic upgrades, and a mix of ESFR and heavy sprinklers. The park is approved for advanced manufacturing, bio life science, research and development, STEM, food production, warehouse and distribution, and office use.
The Loop at Harbor Bay is centrally located with access to public transportation, the Oakland International Airport and the I-880 freeway. The park has a free BART shuttle and is minutes from the water ferry to the South San Francisco Ferry Terminal and the San Francisco Ferry Building.
Brett Kluewer of Stream Realty Partners and John McMahon of Colliers represented Azzur Group in the lease.
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.