February 1, 2020, Alameda, CA — Bay Area-based commercial developer srmERNST Development Partners, in partnership with Hillwood, announced Penumbra Inc. has signed a 15-year lease for their South Loop Development in the Harbor Bay Business Park at 1310 Harbor Bay Parkway in Alameda. The 126,700 square foot space will include offices, an outdoor courtyard, a conference center, a campus café/coffee bar, and 391 parking spaces.
Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures and markets innovative products and has a broad portfolio that addresses challenging medical conditions and significant clinical needs across two major markets, neuro and vascular. Penumbra sells its products to hospitals primarily through its direct sales organization in the United States, most of Europe, Canada and Australia, and through distributors in select international markets.
“Successfully housing our offices, research, and manufacturing facilities in Harbor Bay for many years, this expansion of space and amenities will allow Penumbra to continue creating an increasingly diverse range of quality jobs while staying in the area and providing a dynamic office environment for our current employees,” said Adam Elsesser, Penumbra CEO.
With a much larger space and easy access by car, shuttle, or ferry, as well as being in close proximity to the airport and freeway, the new Penumbra facility is estimated to bring several hundred new jobs to Harbor Bay Business Park. Development is expected to be completed in early 2021.
“Alameda has been a great municipality to work with, enabling us to expand Harbor Bay Business Park as it quickly becomes a hub for R&D institutions, primarily in the life science and med tech field,” said Joe Ernst, President at srmERNST. “With two other R&D spec buildings available for lease or sale near this site, we look forward to the active transformation of this area.”
Headquartered in Oakland, srmErnst is a privately-owned, full service real estate development, investment and advisory firm focusing on value-add infill office, industrial, mixed-use and turn-key build-to-suit opportunities in the San Francisco Bay Area.