Category: Bio Tech CRE (1)

Merck has signed at 15-year 294,000+/- square foot lease in South San Francisco’s West Coast R&D Center, as reported by The San Francisco Business Times. Merck could take occupancy as early as 2019, and paid what is estimated to be $57+/- per square foot for the building, according to the article.

Aerial Overview of 213 E. Grand Ave:  Future site of Merck's 9-story R&D building

Aerial Overview of 213 E. Grand Ave: Future site of Merck’s 9-story R&D building

The South San Francisco’ location leased by Merck neighbors Rinat Neuroscience Corporation, Genentech, Alphabet Inc and Verily. AstraZeneca also recently leased a large swath of space in South San Francisco as reported by the Business Times. Both Merck and AstraZeneca are expected to employ a total of roughly 650 workers at their new locations. In following with other R&D and biotech firms in South San Francisco, Merck’s building will be “first class” including a “300-seat auditorium” to “host scientific conferences, fitness center, a cafe and upper-floor terrace with views of the bay to the east.”