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Cushman & Wakefield Arranges Office/Life Sciences Headquarters Lease in San Francisco
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Cushman & Wakefield (NYSE: CWK) announced that Nobell Foods, a startup focused on plant-based cheese, has signed a lease for 66,234 square feet of office/life sciences space in South San Francisco. The new headquarters will be part of the Gateway of Pacific campus, which is under development by Biomed Realty Trust. The relocation signifies Nobell Foods' expansion, building on their previous $75 million Series B funding raised in July 2021. This move underscores the ongoing demand for biotech and life science facilities in the San Francisco Bay Area.
Positive
Nobell Foods has secured a sizeable lease, indicating growth and stability.
The new headquarters is part of a modern development, enhancing company visibility.
Continued demand for biotech and life science space suggests a healthy market.
Negative
None.
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced Nobell Foods, a startup that specializes in making cheese from plant-derived dairy proteins, has leased 66,234 square feet of Class A office/life sciences space for its new headquarters in South San Francisco, California.
Relocating and expanding its headquarters from a nearby location, Nobell Foods’ new headquarters is located in a newly constructed building at 700 Gateway Blvd deemed Phase III of Gateway of Pacific, a brand new state-of-the-art campus development that will total 2.2 msf when fully built out. The property is owned and being developed over five phases by Biomed Realty Trust.
Cushman & Wakefield’s Marc Pope, Executive Director and Gary Boitano, Senior Director represented the tenant in the transaction. Scott Altick of Biomed Realty Trust self-represented ownership.
“We are excited to be part of the growth of Nobell Foods as they relocate to their new headquarters in South San Francisco,” said Pope. “Their leadership is incredible, and their new location will really reflect the quality of the company. We look forward to their continued success at Biomed Realty Trust’s Gateway of Pacific campus.”
“This transaction adds to the strong momentum we have maintained for many years from biotech and life science users here along the San Francisco Bay Area Peninsula,” added Boitano.
Founded and led by Magi Richani, Nobell Foods creates key dairy proteins, including casein, from high-quality soybeans, enabling the brand to make cheeses that taste, smell, melt, stretch, and even age like those made from animals, and challenging the way we talk about, think about, and eat cheese. In July 2021, the company announced it had raised $75 million Series B funding. For more visit https://www.nobellfoods.com/.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
