By David Gross
Berkeley/Emeryville and South City, two submarkets just outside San Francisco, are seeing lease rates push into the 70s as many life sciences companies continue to dance around signing leases in the city. However as recently as last November, I-O developer Agenus leased 84,000 feet in Emeryville for $63 per square foot. The property, at 6455 Christie Avenue, is a few blocks west of the Hollis Street corridor where Zymergen and Berkeley Lights have signed leases in recent years. While space in the area is extremely tight, BioMed is adding 910,000 square feet to the neighborhood with its Emeryville Center of Innovation Property.
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