Chad Jones Steps into New Role as Head of Investments, Eastern Region for DivCore Capital.

New York, NY (April 8, 2024) — LoanCore Capital, a commercial real estate lending firm located in Greenwich, CT, and DivcoWest, a vertically integrated real estate investment firm headquartered in San Francisco, CA, are pleased to announce the promotion of Chad Jones to Head of Eastern Region Investments for their unified investment platform, DivCore Capital. Chad, who will be based in DivCore’s New York City office, previously served as Head of East Coast Originations for LoanCore. In his new position, he will play a pivotal role in solidifying New York as one of DivCore’s East Coast hubs further unifying its Real Estate Debt and Equity subsidiaries (LoanCore Capital and DivcoWest, respectively).

“We are thrilled to announce Chad’s promotion to Head of Investments for the Eastern Region. With his vast experience in commercial real estate lending and investments across various property types and markets, as well as his expertise in complex deal structuring, we are confident that he will be instrumental in driving DivCore’s continued success not only in the Eastern Region but also nationally.” said Mark Finerman, CEO of LoanCore and Co-CEO of DivCore Capital. “We look forward to leveraging Chad’s strong leadership skills to drive continued growth for DivCore and to maximize value for our investors.”

About DivCore
Formed in 2012 DivCore Capital, is the unification of DivcoWest, an equity focused investment firm which began operations in 1993 led by Stuart Shiff and LoanCore Capital which focuses on credit investments and was founded in 2008 led by Mark Finerman with a combined AUM of $32.5 billion. Through the unification of these two commercial real estate investment firms, DivCore’s vertically integrated team of over 225 professionals brings over 30 years of real estate investment and capital markets expertise across market conditions and credit cycles and the experience and skills to invest across all asset types and up and down the capital structure. DivCore’s success is driven by longstanding relationships with clients, deep market and industry knowledge, long term presence in key innovation markets, and the ability to provide creative debt and equity real estate solutions in an ever-evolving market.
www.divcore.com

About LoanCore
Founded in 2008 by Mark Finerman, LoanCore Capital, a DivCore Capital company, is a real estate lender and investor with a credit-focused asset management platform and is headquartered in Greenwich, CT, with offices in Palm Beach, Chicago, San Francisco, and Los Angeles. LoanCore is a trusted multidisciplinary holder of subordinate risk through fixed and floating originations, generally levered with fixed rate CMBS, floating rate CLOs and warehouse lines underwritten to be held to term. Since inception, LoanCore has funded in excess of $31 billion across more than 950 transactions.
www.loancore.com

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

301 Howard to Represent San Francisco in 250,000-499,999 SF Office Category in Pacific Southwest Regional at the BOMA International TOBY Awards

San Francisco – February 28, 2024 – 301 Howard Street, a 319,000 square foot, 23-story Class A office tower in San Francisco’s South Financial District has been awarded the 2024 The Outstanding Building of the Year (TOBY®) by the San Francisco chapter of the Building and Office Managers Association (BOMA-SF).

The Outstanding Building of the Year (TOBY®) Award is the commercial real estate industry’s highest recognition honoring excellence in commercial building management and operations in specific categories of building type or size.

“We believe in investing in the power of place and creating exceptional environments for today’s most forward-thinking companies. So, it feels great to start 2024 on a high note with this prestigious TOBY® award,” said Gregg Walker, President of DivcoWest Real Estate Asset Management. “DivcoWest is proud of the dedication and effort made by the entire team at 301 Howard in delivering an exceptional workplace and experience to our tenants every day. We are thankful to BOMA for recognizing our team’s commitment to delivering superior service.”

301 Howard, which was built in 1987 and recently renovated, won the TOBY® in the 250,000-499,000 s.f. office category. DivcoWest owns, operates and has its corporate headquarters in the building which sits across from the Salesforce Transit Center, a regional transit hub for Muni, Golden Gate and AC Transit, Greyhound, Amtrak and Caltrain. It is also benefits from close proximity to Bay Bridge access and local ferries.

Among the building’s significant amenities are a fully-equipped fitness center with showers and lockers, a communal rooftop terrace with spectacular views of the Bay and an award-winning, fully-renovated lobby designed by Huntsman Architectural Group all managed by a hospitality driven team. The building hosts Joe & The Juice, a globally recognized health and wellness fast food café, and has an amenity lounge and bicycle storage for tenants.

For an opportunity to win a BOMA International TOBY Award, a property first must earn a BOMA 360 designation, a worldwide standard for building operations and management, and win both local and regional competitions.

Judging is based on criteria that includes community impact, tenant and employee relations programs, energy management and green policies, accessibility, emergency evacuation procedures, building personnel training programs and overall excellence. Building inspections are conducted by a team of industry experts.

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

Original Town Hall Chefs/Owners Mitchell and Steven Rosenthal, along with Co-owner Bjorn Kock, announced they will be departing from the acclaimed restaurant in October, just shy of its 20-year anniversary, passing the torch to Chef Tyler Florence to carry on its legacy. What began in 2003 as a shot for the Rosenthal’s to create a New Orleans-inspired, casual take on the pedigreed cuisine they developed at Postrio with Wolfgang Puck, the downtown institution’s New American fare and buzzy atmosphere quickly became a San Francisco darling beloved by luminaries from Mayor Willie Brown to Dave Chapelle. From pioneering one of the earliest Bay Area communal tables to its famous chocolate butterscotch pudding and storied Fat Tuesday parties, Town Hall set new standards as a vibrant gathering place for San Francisco residents and visitors from near and far.
“Town Hall has always been a joy for us, a place everyone could call home. While we’re sorry to see this chapter close, we leave with great pride in what we have accomplished. With its subtle New Orleans charm, awesome food, and warm and wonderful staff, Town Hall has been cherished as a San Francisco star and we will treasure the many wonderful memories we have for years to come,” M. Rosenthal states. Mitchell, Steven, and Bjorn are especially grateful for the hard work and devotion that their incredible staff put in over the years and would also like to thank the patrons and regulars for their continued support.
Town Hall’s next chapter will kick off in early 2024 when chef Tyler Florence teams up with San Francisco-based real estate investment firm DivcoWest. DivcoWest and its partners own the restaurant as well as the adjacent 199 Fremont, a Class A office building that features a newly renovated lobby and tenant lounge that can host private events. Tyler will take over all restaurant operations and reintroduce a new concept under the existing and beloved Town Hall name. Florence’s approach to the evolution of Town Hall includes a refreshed menu, extended hours, and valet parking.
“Town Hall has made a significant culinary contribution to the City of San Francisco and our team is looking forward to carrying on the tradition of this cherished institution. We are excited to pair a fresh, new experience with our elevated hospitality to create a new restaurant offering that will blow you away,” said Chef Tyler Florence.
“Town Hall is an institution that has created great memories over the years for which we are deeply thankful,” said Eric Lupinski, Managing Director, DivcoWest. “We are honored that Tyler Florence has chosen the evolving East Cut neighborhood for his next endeavor. He is a celebrated voice in the hospitality industry, and we look forward to introducing his new concept to the community.”

Town Hall is located at 342 Howard Street in San Francisco. For more information, please call (415) 908-3900.

The Former Bank Branch Expanded into Three High-End Storefronts, now 100% Leased.

New York, NY (October 01, 2023) — Newmark Retail, in collaboration with DivcoWest, announces that the remarkable transformation of 540 Madison’s retail space is now 100% leased. What was once an oversized bank branch spanning 9,266 square feet was ingeniously reimagined into three distinctive storefronts to accommodate a mix of high-end retailers. The latest tenants to sign at the asset are H.Stern and Bang & Olufsen will join luxury watch retailer Grand Seiko, bringing the retail portion of 540 Madison to 100% leased. Newmark Vice Chairman Ariel Schuster and Director Mitch Heifetz serve as the exclusive leasing agents for the retail component and represent ownership on both transactions.

“This transformation is a testament to the vision and collaborative efforts between Newmark and DivcoWest. We’ve turned an oversized bank branch into an exquisite retail destination, exceeding expectations and achieving an impressive lineup of high-end retailers,” said Schuster. “Our collaborative efforts have successfully come to fruition with the signing of HStern and Bang & Olufsen, bringing the retail portion asset of property to 100% leased.”

Details of the more recent transactions include:
• Bang & Olufsen is among the world’s top high-end consumer electronics companies that designs and manufactures audio products, television sets and telephones. The Danish-founded company signed a long-term lease to occupy a 1,557-square-foot retail outpost at 540 Madison, which features frontage on East 55th Street.
• H.Stern is the U.S. outpost of a posh, Brazil-based jewelry company selling high-end pieces, including a robust collection of watches. The tenant signed a long-term lease to occupy a 1,450-square-foot space at the Madison Avenue location.

“With 540 Madison’s premier location and the repositioning of the office tower completed, we believed securing the right luxury retailers at the ground level was critical to the building’s transformation,” said Ariel Aber, Managing Director and Head of New York Investments at DivcoWest. “We look forward to long-term partnerships with H.Stern, Bang & Olufsen and Grand Seiko and thank the Newmark team for their commitment and collaboration on the successful leasing program.”

540 Madison is a newly renovated 292,000-square-foot, Class A office tower with ground-level retail at the corner of Madison and 54th Street, one of the city’s most sought-after neighborhoods. The building is just two blocks from the E, F and M subway lines at the 5th Avenue – 53rd Street Station. Nearby attractions include The Saint Regis Hotel, Paley Park, The Paley Center for Media, The Museum of Modern Art, Saint Patrick’s Cathedral, Rockefeller Center and Radio City Music Hall.

About DivcoWest
Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital company, is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Austin, Cambridge, Los Angeles, Menlo Park, Washington DC, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 59 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

PUBLICATION: PULSE 2.0

SITE Technologies – a leading innovator in asset management and data analytics technology utilizing artificial intelligence and advanced imagery capturing technologies – recently announced that it is excited to announce the successful completion of its Series A funding round, securing $10 million in investment. The funding round was led by Prologis Ventures, the investment arm for Prologis, the global leader in logistics real estate, along with technology investors DivcoWest Ventures and Protagonist.

SITE Technologies was built to revolutionize the real estate industry through advanced data collection and AI analysis. And SITE’s proprietary intelligence platform uses the power of AI and drones, satellites, manned aircraft and other methods to gather precise and real-time property data, significantly improving the efficiency and accuracy of a facility’s condition analysis. This funding round will enable the company to accelerate enhancements of the AI intelligence platform and expand globally.

SITE Technologies has already established itself as a trusted partner for various industries, including commercial, industrial, and retail real estate, construction, and infrastructure management. And the company’s innovative approach enables clients to access critical data remotely, eliminating the need for expensive, time-consuming, and sometimes hazardous “boots on the ground’ inspections. Now Prologis is expanding using SITE in all of its locations across the Americas and expanding into Europe.

KEY QUOTES:

“Managing multiple properties can be complex, and our proprietary technology enables our clients to make decisions faster, increasing ROI while optimizing performance and productivity. The way property inspections are completed has been transformed, combining our state-of-the-art data capture technology with powerful data analytics, and AI, providing invaluable insights into property conditions, infrastructure, budgets, and operations.”

– Dan Duffy, CEO of SITE Technologies

“We are really excited about how Site Technologies’ platform can enhance long-term value and performance for real estate properties. It’s truly a game-changer in the industry. Its ability to leverage AI and other capture technologies to quickly and accurately analyze critical property characteristics allows property owners to identify potential issues as well as optimize bid management processes more efficiently.”

– Will O’Donnell, Managing Director, Prologis Ventures

Link to article here

The American-fare establishment is expected to open in 2024, becoming the sixth restaurant to join the CX neighborhood.

September 18, 2023 – DivcoWest, a DivCore Capital Company and the national real estate investment and development team behind the destination neighborhood and innovation hub, Cambridge Crossing (CX), and its project partner for Park 151, LCOR, announced a new relaxed dining concept will join CX in 2024, adding to the neighborhood’s vibrant culinary offerings. Tap 151 Bar and Grill will be at the ground level of Park 151, CX’s newest multifamily residential building, and adjacent to a new event lawn.

The restaurant will feature a menu of tried-and-true pub favorites, an extensive bar selection, and a lively neighborhood atmosphere. Encompassing approximately 6,000 sf, the space will offer both indoor and outdoor seating and the interior design will lean into the distinctive style of the CX neighborhood, with the space featuring 233 seats with a total capacity of 300. Tap 151 is positioned to be a high-spirited entertainment destination, providing televised sporting events and game nights, and a comfortable gathering place for people of all ages.

“We are thrilled to announce the addition of Tap 151 Bar and Grill to CX and look forward to expanding our selection of local eateries for our community to enjoy,” said Dennis O’Donnell, Senior Director at DivcoWest. “CX is comprised of spaces that are thoughtfully and purposefully built to foster and engage connections, and we look forward to Tap 151 opening in 2024 and becoming a local neighborhood favorite by those near and far.”

The future operators of Tap 151 are no strangers to the area and currently manage well-established full-service bar and grills in Cambridge, Somerville and Northboro, MA. The operators acquired two properties from Tavern in the Square in 2017 and 2021, located in Central Square, Cambridge, and Northboro, MA, respectively, and reimagined them as local, neighborhood taverns. Additionally, the partnership separately runs Oliveira’s Steakhouse, a popular Brazilian steakhouse in nearby Union Square, Somerville.

“We are thrilled to announce Tap 151 Bar and Grill at CX and look forward to expanding our footprint in the Cambridge community alongside the wonderful range of restaurants and café concepts within the neighborhood,” said Davidson Bettero, Owner at Tap 151 Bar and Grill. “We pride ourselves on building warm, inviting spaces for our guests to have enjoyable and memorable experiences while highlighting the best of our local flavors.”

Construction for Tap 151 is expected later this fall with opening projected in mid-2024. CX’s other established eateries are Café Beatrice, Geppetto, The Lexington, Lamplighter Brewing Co., Tatte Bakery and Café, and Bon Me which is also set to open in 2024.

GLENDALE, CA August 14, 2023 – DivcoWest, a DivCore Capital company, announced that Hearst Media Production Group (HMPG) has signed a 10-year plus lease at 655 North Central, a Class A building in Glendale.

The lease for 20,011 square feet allows HMPG to move from an older facility in Burbank and expand its West Coast operations. Occupancy is expected sometime in early 2024.

The company, which is a business unit of Hearst Television and produces and distributes original programming for TV, broadcast, cable, and streaming services, also has offices in New York, Washington DC, and Charlotte.

“We’re delighted to partner with Hearst Media and do our part to help its leadership realize the vision of expanding in a high-profile, state-of-the-art facility that provides its employees with a full range of amenities,” said Jared Crowley, Senior Director-Investments, DivcoWest.

655 N. Central is a 549,000 s.f. LEED Platinum Class A office tower which was renovated in 2018 and features a conference/event center and a fitness room with full equipment including Peloton bikes, showers, and lockers.

The building also has an adjacent eight-level parking garage with EV charging. 655 N. Central has maximum visibility at the intersection of Central Avenue and the Ventura (134) Freeway.

Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, “Astellas”) and DivcoWest, a DivCore Capital Company, announced today plans for Astellas to open a new state-of-the-art life sciences facility at 441 Morgan Avenue, in the Cambridge Crossing (CX) neighborhood in Cambridge, Mass. This investment establishes a significant presence for Astellas in one of the world’s premier life science innovation hubs, showcasing the company’s commitment to expanding its R&D footprint in order to accelerate innovation and deliver VALUE to patients.

Designed by Ennead and Jacobs Consulting, 441 Morgan is the fifth lab-ready building at CX and is situated at a gateway to the neighborhood with views of the Charles River and beyond. With wellness, connectivity, and tenant experience at the forefront, when complete, 441 Morgan will offer five outdoor terraces, direct access to a five-acre park, integrated building technologies including smart technology View Glass, three underground levels of parking and a bike room.

Astellas expects to occupy two floors, or approximately 62,000 square feet, of the new facility in 2024. Astellas will house both laboratory and office areas. The laboratory area will be occupied by Discovery Accelerator, which will serve as an additional incubator space for external collaborators as well as Mitobridge. Over time, a few hundred Boston-based Astellas employees will operate out of the new building, representing functions including Medical & Development, Business Development and Research.

As part of Astellas’ and DivcoWest’s commitments to sustainability and reducing its environmental impact, the building is targeting LEED Gold. The building is also targeting WiredScore Platinum certifications and is ideally situated just steps to two MBTA lines, including the Community College orange line station and the Lechmere green line station.

Astellas was represented by Transwestern Real Estate Services Executive Vice Presidents Kyle Robbins and David Burkards and Executive Managing Director Andrew Davidson.

Tadaaki Taniguchi, M.D., Ph.D., Chief Medical Officer, Astellas

“This investment in Cambridge represents a significant milestone for Astellas, enabling us to continue growing our presence in the Greater Boston area and to create additional hubs for innovation and collaboration. We view this as a strategic approach to enhance our ways of working, foster new collaborations and open up new opportunities in the biopharma ecosystem. We look forward to leveraging the vibrant life sciences ecosystem in the area to drive scientific advancements that ultimately lead to better outcomes for patients.”

Mark Roopenian, Managing Director, DivcoWest

“We are thrilled to welcome Astellas to Cambridge Crossing. Through thoughtful and purposeful design, CX has become home to some of the world’s leading life science and biotech companies offering both the built environment forward-thinking companies need for today’s research and development, and the vibrant community employees desire. We look forward to Astellas being part of the neighborhood and a collaborative partner.”

Yoshitsugu Shitaka, Ph.D., Chief Scientific Officer, Astellas

“Our new Cambridge space will be intentionally designed to foster a culture of innovation and collaboration. By providing shared resources, flexible workspaces, and dedicated areas for cross-functional and partner collaboration, the new building will enable our teams to work together seamlessly and capitalize on the diverse expertise both within the company and outside our walls. Moreover, we are excited to create an incubator space through Discovery Accelerator that will provide new opportunities to both support and be a Partner of Choice to highly innovative external organizations.”

Cambridge Crossing (CX) is a winner of the Urban Land Institute’s (ULI) 2023 ULI Americas Awards for Excellence. CX is one of ten developments from across North America , now competing against projects from Europe and Asia Pacific in the 2023 ULI Global Awards for Excellence.

“We are thrilled and proud to have been selected as a winner of the prestigious ULI Americas Awards for Excellence,” said Mark Roopenian, Managing Director of DivcoWest. “Since breaking ground six years ago, our team has worked extensively with our planning and construction partners to build out a neighborhood in Cambridge, Somerville and Boston that reflects an inclusive, equitable, and accessible space. This award is a culmination of the hard work of many individuals and municipalities, and we thank those who have made Cambridge Crossing the vibrant community it is today.”

This year, 68 projects and programs from across the Americas were considered, and a jury of experts in a range of fields, selected 20 finalists. The jury selected ten winners after an interview and site visit with each finalist.

The award recognizes superior development efforts in the private, public, and nonprofit sectors and encompasses a wide range of land uses, sizes, and investments. According to ULI, the project was evaluated on the approach taken to urban planning, design, community engagement, innovation, sustainability, among others. All of which worked together to bring DivcoWest’s vision for the CX neighborhood to life. The CX team has worked closely with local municipalities, leaders, and organizations to strengthen public-private partnerships to expedite and enhance planned projects. In 2021, the long-awaited Green Line Extension (GLX) opened, extending the Green Line into Somerville and Medford, a move supported by DivcoWest. Today, the new Lechmere Station is at CX, which also supports a bus station and a public access cycle center connecting to a regional bike path network.

In 2015, the transformation by DivcoWest of 43 acres in Cambridge, Somerville, and Boston began, with the goal of connecting the former railyard to Kendall Square and the surrounding neighborhoods. With a focus on accessibility and mixed-use spaces, the master plan for the neighborhood was designed around the multitude of public transit options and walkability.

When fully completed, CX will have a total of 4.5 million square feet, with close to half being life science and technology space. In the past three years, it has become home to world-class life science companies, such as Bristol Myers Squibb, Philips, Sanofi, and Cerevel Therapeutics, with more availability opening this year. 11 acres of this innovation hub offers live-work-play-learn spaces including a central common, a picnic grove, and a dog park. Throughout the year, the common and central arteries are activated with public programming and art installations with local partners to highlight the history and impact of individuals from the area. Plus, two MBTA stations, including the Lechmere Green Line stop and the Community College Orange Line stop, are minutes away. Completed last year and currently leasing, Park 151, is the first residential building at CX and offers 468 units.

To learn more about Cambridge Crossing, visit cambridgecrossing.com.

DivcoWest, a DivCore Capital company, announced that IDEAYA Biosciences (NASDAQ: IDYA), a clinical-stage precision medicine oncology company, is coming to 5000 Shoreline. 5000 Shoreline is a 140,000 s.f. Class A building on the bay in South San Francisco’s Sierra Point life science cluster.

The long-term lease for 44,000 s.f. was signed earlier this month and gives IDEAYA access to state-of-the art lab space designed specifically for the firm’s needs and growth plans. Move in is expected in mid-2024. DivcoWest was represented by Chris Jacobs and Matt Jacobs of CBRE. IDEAYA Biosciences was represented by Grant Dettmer and Scott Miller of JLL.

DivcoWest acquired 5000 Shoreline last year as a vacant office building and immediately put in place a plan to convert the waterfront property to high quality lab use, upgrading building systems and infrastructure to appeal to life science users. The life science cluster surrounding the building is dominated by dozens of world-class life science ventures including AstraZeneca, Bristol Myers Squibb, and Janssen Pharmaceuticals.

Base building improvements include upgrading the electrical service to 4000 amps, replacing of rooftop mechanical units and the addition of a 1,200kW emergency generator. DivcoWest is installing two additional service elevators, a new gym as well as upgrading the building’s common areas to include meeting spaces.

Coming Soon: Spec Suites
The three-story building can accommodate tenants from 10,000 to 80,000 s.f. DivcoWest is in the process of fitting out 10,000, 13,000, and 20,000 s.f. spec suites offering lab space, lab support areas, offices, conference rooms, lounges, and lobbies. Spec suites will be available for occupancy in Q1 2024.

5000 Shoreline offers abundant parking and is less than a 15-minute drive from downtown San Francisco and ten minutes to SFO. The building’s waterfront location also puts it on the San Francisco Bay Trail, a 350-mile network of connected walking trails, bike paths and parks. The trail provides foot and bike access to the Alameda-Oakland-South San Francisco ferry situated just across the Oyster Point Channel.