May 10, 2020
San Diego-based IQHQ, Inc. acquired South City Station, a nearly two-acre life science development site in South San Francisco, from Republic Metropolitan with plans for a 213,000-square-foot facility. The site at 580 Dubuque Ave. represents IQHQ’s first major agreement in the San Francisco market. The purchase price was not disclosed.
IQHQ’s Tracy A. Murphy says, “Once complete, South City Station will immediately meet the growing demand for premier life science real estate and R&D space in the thriving South San Francisco market. It will be developed to attract top talent.”
Cushman & Wakefield’s Ben Paul brokered the off-market sale.
Paul says, “This site provides a unique opportunity for IQHQ to develop a Class A facility of scale at the South City train station within walking distance to brand new residential and the burgeoning downtown.”
IQHQ completed a $770 million capital raise earlier this year that has supported the REIT’s strategy to invest in cutting-edge life sciences projects in top innovation hubs.
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