(EDITOR’S NOTE: According to sources with knowledge do the transaction details, the expansion was for approximately 38,000 square feet. The lease is located in Longfellow’s Redwood LIFE campus, which is comprised of 20 buildings totaling 1,006,092 square feet and is a key part of the tech and life science cluster thriving in and around San Francisco, according to the company’s web site. The campus, located in Redwood City, is home to the world headquarters of Shutterfly, as well as innovative lab and technology companies Nevro, Procept Biorobotics and Proteus Digital Health.)
San Jose, CA (March 24, 2021) — Newmark announces it has advised on a new headquarter lease on behalf of Talis Biomedical Corporation (Nasdaq: TLIS) in Redwood City, marking the company’s third expansion in the Northern California market.
Talis, headquartered in Menlo Park, is a growing molecular diagnostics company dedicated to developing and commercializing innovative tests for infectious disease at the point-of-care, increasing access to timely results. In response to the significant need for rapid, highly accurate testing solutions to help combat the COVID-19 pandemic, Talis expanded its Talis One™ system, originally developed for clinical use in women’s and sexual health, to test for SARS-CoV-2, the virus that causes COVID-19. Talis also recently completed an initial public offering to help fund its growth plans.
“Talis is in an exciting growth phase as we scale-up for the commercial launch of the Talis One for COVID-19 and planned expansion of our test menu to include other infectious diseases,” said Brian Coe, Chief Executive Officer of Talis. “Securing the right space to support this trajectory is critical and we believe our new offices and lab at Redwood LIFE will strengthen our continued efforts to scale business operations and attract talent here in the Bay Area for years to come.”
In the ongoing fight against COVID-19, biomedical companies like Talis are on the forefront of advancing the tools to combat this pandemic. As a result, a sustained, elevated demand for specialized lab space remains in effect, particularly in the country’s premier life sciences clusters, such as the San Francisco Bay Area, Cambridge, San Diego, Raleigh and Seattle markets, according to Newmark Research.
Newmark’s Vice Chairman Michael Saign and Managing Director Rob Conlon represented Talis in the transaction. Talis’ new headquarters will be located at Redwood LIFE, a 20-building campus comprised of over one million square feet of lab and innovation space owned by Longfellow and PGIM. The recently renovated campus features a new 25,000-square-foot amenities building and is ideally situated in a central Bay Area location with flexible expansion opportunities, bay trail access and on-site programmed hospitality services.
“Talis has been a valued client we have had the privilege of assisting since their first incubator space lease in the Bay Area over seven years ago,” said Saign. “The years of development work poured in to building their product could not have culminated at a more opportune time. We wish the entire Talis team well deserved and continued success.”
The Bay Area is the country’s largest and most established life sciences market with its total commercial laboratory space having grown 13.6 percent in the last year to 30 million square feet. Another 3.3 million square feet is currently under construction with 2.8 million square feet expected to be delivered by late 2021, according to Newmark Research.
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