December 1, 2016
Global biopharmaceutical company Merck selected Pasadena-based Alexandria Real Estate Equities, Inc. to develop, construct and operate its new West Coast research campus in South San Francisco. Development of a new state-of-the-art facility for a company the stature of Merck in such a tight market is considered a significant market event.
The yield-based, formula-driven REIT will commence construction on the 9-story, 294,000-square-foot, multi-disciplinary discovery research campus early next year. The fully-entitled, build-to-suit site at 213 East Grand Ave. is expected to be in service in early 2019.
Designed to achieve LEED Platinum certification, the facility will accommodate more than 300 scientists, and support research spanning exploratory biology through early clinical development.
The amenity-rich campus will feature inviting and open green space to promote health and wellness, as well as function as an outdoor event space. The development will also include a 300-seat auditorium, a fully equipped fitness center and a café and terrace with waterfront views.
*Rendering Courtesy of Alexandria Real Estate Equities, Inc.
For comments, questions or concerns, please contact Dennis Kaiser