South San Francisco, Calif.
Genentech has signed a lease for 780,000 sf in South San Francisco, which may be the largest single lease ever penned in the northern California Bay Area. Developer Slough Estates will construct the three-, four-, and eight-story life science facilities in two phases over the next four years. Construction cost is estimated at approximately $325 million. The project will consist of roughly 40 percent office and 60 percent laboratory space. Genentech currently occupies 33 buildings in South San Francisco and is planning to expand its 72-acre campus to 111 acres. The company plans to increase employee count from 7,500 to 9,000 in 2005.
