Alexandria Signs Long Term Lease with UCSF for Endocrinology Lab

SAN FRANCISCO-University of California, San Francisco (UCSF) will establish a state-of-the-art clinical and translational research unit focused on endocrinology at 499 Illinois Street in Mission Bay. With immediate proximity to UCSF’S research campus and three new hospitals, located just one block away, 499 Illinois Street will provide UCSF with a unique advantage in retaining its existing world-class workforce, attracting highly talented scientists and clinicians, and facilitating its continued growth as the nation’s leading university exclusively focused on healthUCSF has signed a 15-year lease for approximately 30,000 rentable square feet (RSF) executed by the developer of 499 Illinois, Alexandria Real Estate Equities, Inc. Given Alexandria’s previous announcement of its long-term lease with Illumina, Inc. at 499 Illinois Street for approximately 97,700 RSF of laboratory/office space, as well as an additional approximately 55,400 RSF currently under negotiation, this approximately 222,780 RSF signature waterfront project is now approximately 82% leased or under negotiation. Market demand for the remaining space at 499 Illinois Street, and Mission Bay more broadly, continues to be solid from multiple segments in life science, translational clinical uses and the rapidly expanding technology and digital health sectors.

With intensifying intellectual and capital investments from UCSF, including the opening of three new, state-of-the-art hospitals (Benioff Children’s Hospital, Cancer Hospital and Women’s Specialty Hospital) in early 2015, Mission Bay continues to enhance its preeminent reputation as an international life science ecosystem comprised of world-class academic, institutional, pharmaceutical, biotechnology, government, and venture capital entities that are collectively developing novel, breakthrough products that will save lives, manage disease and reduce the economic burden of disease on society.