EMERYVILLE, CA—One sector of the Bay Area economy that continues to grow despite the COVID-19 lockdown is research and development, particularly in life sciences, sustainable food and technology. A recent example is Perfect Day's sublease of 112,000 square feet at 740 Heinz Ave. in Wareham Development's Aquatic Park Campus in Berkeley.
The firm specializing in research, development and production of animal-free dairy products will move this year into 61,000 square feet at 740 Heinz and plans to expand more next year. Wareham's Aquatic Park campus totals 800,000 square feet.
"There's no doubt that the shutdown due to the pandemic caused the business sector huge problems. Most of our tenants are in the research sector and as essential businesses have had staff working onsite because it's hard to do science in your kitchen," said Geoffrey Sears, partner at Wareham Development.
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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.
