Dallas-based developer Trammell Crow has proposed a nearly 750,000-square-foot life science campus in South San Francisco, according to documents filed with the city, a continuation of the company’s Bay Area biotech expansion.
The project will create 333,370 square feet in a 216-foot tall tower at 180 Sylvester Road and 155,040 square feet in the 120-foot tall office building at 120 East Grand Avenue. It also features 12,390 square feet for amenities at 123 Sylvester Road, and 240,000 square feet for a garage at 125 Sylvester Road.
San Francisco-based Prologis owns the properties adjacent to where Trammell is proposing its project, and has granted support to move forward with the life science development.
“Prologis has been engaged in collaborating on building, street and technical design studies with the project applicant, Trammell Crow Company, dating back to 2021 to ensure the successful transformation of this neighborhood,” Genevieve Cadwalader from Prologis, wrote to the city’s Planning Commission.
Trammell has pursued another development nearby. It recently acquired a pair of adjacent sites in South San Francisco for $63 million. The developer plans to convert the industrial buildings on the site into multifamily buildings that will have almost 500 housing units.
Elsewhere in the Peninsula, Trammell acquired 5 acres in Redwood City for $65 million, or $317 per foot of land. It plans to build a 202,000-square-foot life science building on the property.
While other sectors are facing distress, life science has maintained resilience in the Bay Area, according to a report by CBRE. One of the reasons is the employment growth the sector has experienced in recent years. Among the top 13 U.S. life science markets from 2019 to second-quarter 2022, the Bay Area had the largest life science employment growth at 27 percent, outpacing Boston. Of the total life sciences jobs in the San Francisco Bay Area, 40 percent were in research and development.
“Industry fundamentals in the San Francisco Bay Area remain strong, supporting the employment growth in life sciences,” Gregg Domanico from CBRE said. “Record-high investment over the past several years has also pushed more science into the clinical stage, signaling the potential for even further rapid growth in the coming years.”