Newmark Negotiates New Life Sciences Lease at the Radius @ Harbor Bay Campus in Alameda, California

June 5, 2023 9:00 AM

Newmark[1] announces that Rubi Laboratories, a California-based biotechnology company, has signed a 16,884-square-foot lease at 1501 Harbor Bay Parkway within the Radius @ Harbor Bay campus, a nearly 700,000-square-foot life science and innovation campus, located in Alameda, California.

Newmark Managing Director Conor Ranahan represented the landlord and ownership group, Paceline Investors and True North Management Group, while Newmark Executive Managing Director Daniel Pivnick and Managing Director Ari Rokeach represented the tenant, Rubi Laboratories. Newmark previously represented the landlord and ownership group in the 43,645-square-foot, full-building lease to Vivani in December 2022 at the same campus.

“Paceline and True North remain invested in building out high-quality, customized lab spaces that are incredibly valuable to tenants,” said Ranahan. “Rubi’s early engagement with the building allowed them to influence the design process and tailor the space to their needs as the company continues to further its research. We’re honored to have once again worked with Paceline and True North in completing a successful lease transaction at the Radius.”

“We are incredibly pleased to welcome Rubi Laboratories to our Radius campus,” said Jay Atkinson of Paceline Investors. “They are an exciting company with an impressive management team that is poised to make significant changes that benefit the environment within a more sustainable fashion industry. We are excited for their future and appreciate their recognition of our vision for the property and the community we are building.”

Chris Saltis of True North said, “Our development of this life science and innovation cluster continues to center on being tenant-friendly and investing early in reusable building systems and space to allow tenants to focus on their science and not on real estate. We are excited to assist Rubi Laboratories in achieving new milestones in their corporate journey.”

1501 Harbor Bay Parkway is a two-story life science building that totals over 33,000 square feet. The property features a new backup power generator, HVAC service with 100% outdoor air, 13-foot clear heights and an outdoor screened equipment pad.

The Radius is situated within Harbor Bay’s growing life science cluster anchored by Abbott Laboratories, Exelixis and Penumbra. The campus sits just off Harbor Bay Parkway and is accessible by ferry service 25 minutes to and from Downtown San Francisco.

Boston, San Francisco, San Diego and Raleigh/Durham remain the top life science clusters in the United States and continue to be the epicenter of life science leasing and capital markets activity, according to Newmark Research. Combined, these four markets make up over 93 million square feet of laboratory and GMP space and have a future construction and renovation pipeline of 33.2 square feet.

[1] Dba Newmark Knight Frank in California

About Paceline Investors
Paceline Investors is a privately-held real estate investment and development company based in San Francisco that invests alongside and on behalf of institutional and family office investors. Paceline Investors focuses on infill Bay Area commercial real estate where it can create differentiated, modern physical product that appeals to and satisfies today’s end users.

About True North Management Group
True North is an independently owned real estate firm focused on investing in value-add and distressed real estate opportunities in growth-oriented markets. The firm has an established track record across multiple economic cycles and with a broad mix of property sectors through multiple institutional, commingled fund vehicles.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of March 31, 2023, Newmark’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.