EMERYVILLE, CA–A recently completed 99,000-square-foot medical office building, EmeryStation Greenway, has received $38.5 million in funding from Holliday Fenoglio Fowler (HFF). Working on behalf of the borrower, Wareham Development, HFF placed the fixed-rate loan with Thrivent Financial for Lutherans. The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong and director Jordan Angel.
The laboratory building is located at 5800 Hollis St. and was completed in 2012. It consists of a four-story building located in the East Bay biotechnology research and innovation corridor not far from Interstates 580, 880 and 980 in Emeryville. The building is officially recognized as LEED-CS pre-certified at the Gold level.
Ganong tells GlobeSt.com: “The quality of the real estate, credit tenancy and institutional sponsorship encouraged strong interest and competitive terms from several portfolio lenders.”
The flexible research-and-development-focused building is located along the new Emeryville Greenway, a unique bike-pedestrian corridor that runs through most of the city of Emeryville from Oakland to Berkeley. Besides the special opportunities for bike and pedestrian access from the Greenway, the project also provides a convenient pedestrian link from Hollis Street through EmeryStation East to EmeryStation 1 and the Amtrak Transit Center beyond, in addition to convenient access to Interstate 80 from adjacent Powell Street.
With outdoor decks and façade along the Greenway, which includes a water feature, a beautiful bronze sculpture and numerous pedestrian-oriented rest places, the building allows occupants to take advantage of one of the truly unique urban landscape amenities in the entire East Bay area.
The base building was designed by DGA Architects, which specializes in the design of office and laboratory facilities for the advancement of the life and physical sciences. DGA was the designer of the JBEI interiors in EmeryStation East. Wareham Development and the City of Emeryville were awarded grand prize for economic development partnership for the EmeryStation Greenway building by CALED.
Wareham Development is a developer and owner of multi-tenant mixed-use campuses in major research and innovation clusters in the Bay Area with a real estate portfolio including campuses and projects in Emeryville, Berkeley, Richmond and Palo Alto as well as Marin County.
HFF is a provider of commercial real estate and capital markets services to the US commercial real estate industry, including a capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. As previously reported, HFF facilitated the sale of a Santa Rosa, CA medical center.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
