Corporate

King Street Properties has announced the substantial completion of the South Building at the Landing, a purpose-built complex for biomedical innovation. Designed by Perkins&Will, the seven-story, 300,000-sf facility offers 46,500-sf floor plates and advanced MEP systems to support a 60/40 lab-to-office ratio. Robust research programs can be accommodated by 15-foot deck-to-deck heights, with expansive 20-foot heights available on the ground floor.

The idea of a workplace means something very different today than it did five years ago. Even before the pandemic, offices were not at full capacity. While occupancy rates have rebounded from their low point in 2020, commercial building spaces are now being used only about 30% of the time. That reality creates an opportunity to rethink what the remaining office space looks like. Employees want a reason to leave the comfort of their homes and endure the commute to the office. They are looking for purposeful presence.

JLL’s Global Future of Work survey has explored the evolving world of corporate real estate since 2011. This year, it analyzes the key priorities, challenges, and strategies of more than 2,300 professionals and decision-makers from around the wold. Recent insights show that companies are adopting a cautiously positive outlook in this increasingly dynamic and ambiguous environment. With plans to increase and rebalance organizational headcount in the coming years, many are ready to invest in their real estate as they expect to increase their budget and footprint.

Attovia Therapeutics is relocating to 26,000 sf at Brittan West, a recently completed life sciences center in San Carlos, Calif. JLL acted as leasing agent for the facility, which will enable the company to expand its research activities and accelerate the creation of novel biotherapeutics for immune-mediated diseases. Access to world-class amenities will enhance collaboration and optimize the employee experience.

One United Properties began construction in August of 2024 on One Technology District, a semiconductor R&D center in Bucharest, Romania. Infineon Technologies will occupy the facility and has committed to a 15-year lease that represents a total contract value of $62.2 million. Positioned to become the largest semiconductor hub in southeast Europe, the innovation complex will offer a gross leasable area of 222,000 sf, including 32,000 sf of next-generation lab space. 

The University of California, Berkeley is planning to construct the Bakar ClimatEnginuity Hub as part of a new downtown innovation zone. Designed by Gensler, the five-story, 145,000-sf facility will provide wet and dry laboratories, collaboration spaces, conference rooms, and offices. The robust structure will also include flexible scale-up suites for the development of renewable energy solutions, carbon-capture technologies, and greener building materials and agricultural practices. 

In March 2021, Citi CEO Jane Fraser announced a new hybrid work model requiring most Citi employees to work in the office at least three days per week. On the campus of Citi’s global operational headquarters, the recently completed renovation of a centrally located amenities building supports this initiative with a coworking environment incorporating a wider array of space types that support employees in face-to-face work during the time they spend on campus. And it’s having some unforeseen benefits, too. 

Wexford Science + Technology is constructing the $1.2 billion Aggie Square on the Sacramento campus of the University of California, Davis. Designed by ZGF Architects, the innovation district is being developed in association with GMH Capital Partners. The 8.25-acre site will feature an expansive plaza framed by three glass-clad structures providing between 230,000 sf and 310,000 sf each.

Siemens AG opened an innovation complex in April of 2024 that will consolidate its corporate research activities in Germany. The 140,000-sf facility was created in partnership with Technical University of Munich and is strategically sited in the institution’s science park. Siemens Technology Center Garching supports 450 engineers working in collaboration with 150 academic investigators to advance industrial artificial intelligence and data analytics. State-of-the-art labs are complemented by modern workspaces, conference rooms, and training areas.

Delancey is planning to construct a £400 million innovation hub in London's Knowledge Quarter. Designed by Gardiner & Theobald and KPF, the 194,000-sf structure will offer 130,000 sf of leasable research space for biomedical companies, technology firms, and start-up enterprises. The highly adaptable facility will feature next-generation laboratories, traditional and open offices, a maker space, and a community event venue. Typical floors will have access to an amenity terrace with a range of interactive settings.

Novo Nordisk has executed a long-term, full-building lease for a 165,940-rsf property at the Alexandria Center for Life Science in Waltham, Mass. Located at 60 Sylvan Road, the research facility is being redeveloped to provide next-generation environments for biomedical discovery. Neighborhoods of labs, offices, and collaboration spaces will foster interaction between investigators to accelerate the discovery and commercialization of new therapies. Occupancy is expected in 2025.

Pfizer has signed a 15-year lease for 230,000 sf of Class A research space in San Diego to accommodate its growing oncology division. The global pharmaceutical manufacturer will occupy two of the three buildings that are currently under construction at Breakthrough Properties' Torrey View campus. Leading-edge wet labs will advance the creation of novel therapies, accompanied by flexible offices and collaboration spaces.

Phase 3 Real Estate Partners and Bain Capital completed construction in February of 2024 on Genesis Marina, a waterfront life sciences campus in Brisbane, Calif. Offering floor plates of up to 42,000 sf, the three-building complex provides over 560,000 rsf of Class A laboratory and office space. Every research suite is equipped with a modular benching system that is pre-plumbed and pre-wired for fast installation and effortless reconfiguration.

Goldman Sachs is partnering with Hunt Realty Investments and Hillwood Urban to create a $500 million corporate facility in Dallas. Designed by Henning Larsen, the 800,000-sf building will feature purpose-built workspaces that foster collaboration and productivity. Flexible meeting venues on every floor will promote formal and informal interaction, enhanced by an onsite café, a conference center, and numerous terraces and gardens.

Oxford Properties is transforming Victoria House in central London into a vibrant destination for biomedical research. Developed in partnership with Pioneer Group, the £70 million project involves the conversion of 220,000 sf of the building's 300,000-sf internal area to provide sophisticated wet labs and write-up areas.