April 28, 2017
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San Diego-based BioMed Realty is set to break ground next month on an initial $140-million phase of its 1.3-million-square-foot Gateway of the Pacific biotech campus in South San Francisco. The first facilities will encompass 550,000 square feet, and are expected to deliver in 2018.
BioMed will build a 12-story, 350,000-square-foot building at Oyster Point and Gateway Boulevards. The building will connect via an atrium to a 150,000-square-foot building. A 50,000-square-foot amenities building is also planned, which includes a cafeteria, gym and conference center with a 500-seat auditorium.
The development will be built on spec, though BioMed believes there’s strong demand for quality lab and office facilities. The Bay Area biotech sector is experiencing a building boom, especially in South San Francisco.
BioMed, which was acquired by Blackstone for $4.8 billion in 2016, secured initial entitlements for the development in 2009.
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