South San Francisco R&D/Office Building Fully Leased
Phase 3 Real Estate Partners has fully leased one of its new buildings in South San Francisco. Corbion, a food and biochemical ingredients company, has signed a 32K lease for 51 months at Genesis, a two-building high-rise campus next to Highway 101. Corbion has moved 50 employees into the South Tower, a 12-story building with 340K SF that is now fully occupied.
Genesis also consists of North Tower, a 400K SF 21-story tower under development. The second tower is expected to be completed fall 2018. Amenities include a fitness center, Foccacia Market & Bakery, a performing arts center for over 230 persons, a patio lounge and shuttle services to the main public transportation lines.
Space in South San Francisco has been leasing up quickly due to ongoing demand and low vacancy. The Corbion deal was completed within two weeks for the market-ready space, according to Newmark Cornish & Carey Senior Managing Director Jay Leslie.
Leslie, along with Newmark Cornish & Carey Executive Managing Directors Randy Scott, Jennifer Vergara and Mary Hines and Phase 3 Real Estate Partners Leasing Manager Becka Studer make up the exclusive leasing team for Genesis and represented the owner. Newmark Cornish & Carey Executive Managing Director Ben Stern represented the tenant.