Actelion Buys Sierra Point Building for $32M

SOUTH SAN FRANCISCO, CA-Actelion is now the owner of 5000 Shoreline Ct., a four-story, 138,500-square-foot office building at the southern end of Sierra Point, according to Jones Lang LaSalle, which brokered the deal. The Switzerland-based biopharma company, which heretofore leased approximately 50,000 square feet in the building, plans to consolidate its US operations there as other tenants’ leases expire.

The purchase price was approximately $32 million, according to county records. The seller was Archon Group, a Texas-based real estate investor that had in-house representation. Gregg Walker and Erich Sengelmann of JLL represented Actelion in the transaction. The brokers involved were not immediately available Monday afternoon for comment.

Located 10 minutes south of the San Francisco Financial District and five minutes north of the airport, Sierra Point is a 102-acre business park that includes several class A office buildings and has its own exit of Highway 101. The Brisbane Marina is also situated there and the San Francisco Bay Trail runs along the waterfront. The building Actelion acquired is approximately 85% leased. The other significant tenant in the building is LifeMasters, which has been subletting its space.