Western Real Estate Business

AUG 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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38 • August 2018 • Western Real Estate Business www.REBusinessOnline.com cludes a 1,500-square-foot Learning Lab for STEM education programs; a 4,000-square-foot Incubator Suite for external collaboration; and an air cir- culation system designed to bring in 100 percent outside air, the highest quality available. The building's lobby also features an art display of 12 cys- tic fibrosis protein strands in honor of the discoveries made by its San Diego research team. Each strand measures 10 feet tall and 10 inches in diameter, allowing visitors to interact with the art display. The facility is surrounded by two acres of outdoor space. It also includes large conference room spaces, a fit- ness center and a restaurant with an award-winning chef. Vertex has com- mitted to a 16-year lease to fully oc- cupy the site. Northern Exposure On the opposite end of the state, HCP Life Science Estates is focused on Phase III of its $720 million, Class A life sciences development project named The Cove at Oyster Point in South San Francisco. The first two phases are fully leased, which led the REIT to commence construction on two new Class A buildings totaling about 336,000 square feet. A future fourth phase will add a seventh and final 165,000-square-foot building. Upon completion, The Cove will be a 1-million-square-foot waterfront life science campus with fitness rooms, a bowling alley, bocce ball courts, an amphiteather and hotel space. "The Cove has injected a new dy- namic into the local market offering an amenity-rich, Class A environment catered to the way today's life science companies work and interact," says Scott Bohn, HCP's vice president. One of those tenants who now calls The Cove home is AstraZeneca. Bay Area employees from the firm's Acerta Pharma, MedImmune, Pearl Therapeutics and AstraZeneca's TIDE (Technology Innovation & De- livery Excellence) are now situated at a single, state-of-the-art facility. The new home base features cutting- edge open and agile lab design that includes windows into labs from public spaces to see science in action. It also includes on-site pantries offer- ing organic foods, adjustable desks and ergo-dynamic chairs, treadmill- equipped team rooms and an on- campus gym. "The opening of our South San Francisco site is a milestone for As- traZeneca, enabling talent from four organizations to work side-by-side at the center of where biotechnology and high-tech industry intersects," says Sean Bohen, the firm's executive vice president of global medicines development and Chief Medical Of- ficer. "This is a demonstration of our commitment to a strong and visible presence in California, our continued growth through science- and collabo- ration-led innovation, and our dedica- tion to being a great place to work for current and future employees." While employers may seem like they stand to gain the most from these innovative structures, Humphrey be- lieves cutting-edge investors can cash in as well through new developments in some of the state's hottest biotech hubs. "Life sciences companies are see- ing new possibilities for their real estate and how they can attract and retain the industry's top talent," he says. "While workplaces of the future require investment, all signs point to these investments paying off in talent and innovation. Offering a workplace that caters to employees' needs gives life sciences companies the important benefit of keeping their talent engaged and productive." n Texas Real Estate Business along with the InterFace Conference Group will host the tenth annual InterFace Healthcare Real Estate, a national information and networking conference focused on healthcare and medical office real estate, on September 27th in Dallas at The Westin Galleria. The conference agenda and speaker line-up will include leading owners, investors, developers, lenders, operators and brokers, as well as hospital and healthcare system executives. If you are involved in healthcare and MOB real estate, or want to learn more about the space, don't miss this event! T o p N at i o n a l H e a lt h c a r e / M O B R e a l E s tat e C o n f e r e n c e C o m i n g i n S e p t e m b e r Alicia Turlington 404-832-8262 aturlington@francemediainc.com R E G I S T R A T I O N & G E N E R A L I N F O : S P O N S O R S H I P & S P E A K I N G I N F O : Rich Kelley 914-468-0818 rkelley@francemediainc.com HEALT HCARE REAL ESTATE i n t e r f a c e c o n f e r e n c e g r o u p . c o m / h c r e 2 0 1 8 T E N T H A N N U A L I N T E R F A C E S E P T E M B E R 2 7 » T h e W e s t i n G a l l e r i a » D a l l a s G O L D S P O N S O R S S I L V E R S P O N S O R S P L A T I N U M S P O N S O R A N a t i o n a l I n f o r m a t i o n & N e t w o r k i n g C o n f e r e n c e P r o d u c e d b y F r a n c e M e d i a a n d I n t e r F a c e C o n f e r e n c e G r o u p AstraZeneca's Bay Area employees are now situated at a single, state-of-the-art facility that features a cutting-edge open and agile lab design.

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