Newmark Cornish & Carey announced today it has negotiated a new 51-month 32,355-square-foot lease with Corbion, a leading food and biochemical ingredients company. The space is within Genesis, a Class A, two-building high-rise life science R&D/office campus in South San Francisco. Corbion will move approximately 50 employees into the space on November 1, 2017.
Newmark Cornish & Carey’s Jay Leslie, Randy Scott, Mary Hines and Jennifer Vergara, along with Becka Studer of Phase 3 Real Estate Partners, are the exclusive leasing team for Genesis and represented the owner, Phase 3 Real Estate Partners, Inc., in the transaction. Executive Managing Director Ben Stern of Newmark Cornish & Carey represented the tenant.
Genesis is situated directly off Highway 101 at the base of San Bruno Mountain providing premier visibility and convenient access throughout the Bay Area. Genesis consists of South Tower located at One Tower Place, an existing 12-story property totaling approximately 340,000 square feet, and North Tower located at Two Tower Place, a 400,000-square-foot 21-story tower that is currently under development with completion anticipated in fall 2018.
The lease with Corbion brings occupancy to 100 percent at South Tower. Featuring a comprehensive and modern amenity-rich environment, the Genesis project brings synergy to the thriving ecosystem of its Life Science tenants with a modern fitness center, Foccacia Market & Bakery that includes an extensive menu and catering, a Performing Arts Center (PAC) which holds over 230 persons, pictureesque views of the Bay from the patio lounge, shuttle services to the main public transportation lines and much more.
“We are pleased that Corbion has chosen Genesis to locate, and believe that this collaborative, multi-tenant community checks all the boxes when it comes to technical space requirements for biotech companies. Additionally, it also provides a prestigious, highly visible location and employee-friendly amenities that help contribute to the quality of life for the professionals who work here,” said Leslie.
Leslie added: “The space Corbion is moving into was market-ready which was ideal as the tenant was looking for a quick move-in. Because of Phase 3 Real Estate’s responsiveness, we were able to accelerate the deal which was executed in under two weeks.”
“Since we acquired the property in late 2015, Phase 3 Real Estate Partners has been focused on creating a fully committed biotech environment that fosters growth and collaboration of Life Science companies,” said BJ Van Aken with Phase 3 Real Estate Partners. “Genesis’ environment is enhanced and strengthened by offering a sense of community and camaraderie driven by having a number of life science companies within one campus.”
About Phase 3 Real Estate Partners, Inc.
Phase 3 Real Estate Partners, Inc. (P3RE), with headquarters in San Diego, California, is a progressive real estate company dedicated to fostering the growth of the life science industry by providing premiere, Class A environments that meet the needs of today’s and tomorrow’s innovators. P3RE’s properties are located in the epicenters of the San Diego and San Francisco biotech markets - two of the world’s top life science clusters. www.p3re.com
Corbion is the global market leader in lactic acid and lactic acid derivatives, and a leading company in emulsifiers, functional enzyme blends, minerals and vitamins. We develop sustainable solutions to improve the quality of life for people today and generations to come. For over 100 years, we have been uncompromising in our commitment to safety, quality and performance. Drawing on our deep application and product knowledge, we work side-by-side with customers to make our cutting edge technologies work for them. Our solutions help differentiate products in markets such as food, home & personal care, pharmaceuticals, medical devices and bioplastics. In 2016, Corbion generated annual sales of € 911.3 million and had a workforce of 1,684 FTE. Corbion is listed on Euronext Amsterdam. For more information: www.corbion.com
About Newmark Cornish & Carey
A dominant regional real estate force since 1935, Newmark Cornish & Carey has an expansive reach as part of Newmark, one of the world’s leading commercial real estate advisory firms. Regionally, Newmark Cornish & Carey has more than 280 agents in 13 strategically located offices throughout Northern California, creating a powerful platform from which to deliver superior services locally, while upholding its core values of integrity and knowledge. For further information, visit www.newmarkccarey.com.
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, valuation and advisory services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.