Healthpeak Properties Announces Full Lease-up of Nexus on Grand Project in South San Francisco
Healthpeak Properties (NYSE: PEAK) announced the completion of long-term leases with Graphite Bio and another biotech firm for its Nexus on Grand project in South San Francisco, achieving 100% pre-leasing before completion. The development spans 148,000 square feet and is designed for advanced lab and office use, featuring modern amenities. This project, expected to be completed by Q2 2023, reflects strong market demand for specialized laboratory facilities.
- Nexus on Grand project fully pre-leased before completion.
- Strong demand for purpose-built lab buildings indicated by early leasing.
- Modern amenities included in the development could attract high-quality tenants.
- None.
DENVER, Feb. 8, 2022 /PRNewswire/ -- Healthpeak Properties, Inc. (NYSE: PEAK) announced today the execution of long-term leases with Graphite Bio, Inc. and another leading biotech company at its life science development, Nexus on Grand, bringing the project to
Prominently located on East Grand Avenue in the heart of South San Francisco, Nexus on Grand will feature 148,000 square feet of state-of-the-art laboratory and office space and a first-class amenities center to include a café, fitness center, and several indoor and outdoor meeting areas within its entry plaza.
"We are excited to expand our partnerships with two leading biotech companies in our South San Francisco portfolio. The lease-up of our Nexus on Grand project more than a year prior to completion demonstrates the continued market demand for best-in-class, purpose-built lab buildings," said Scott Bohn, Healthpeak's Executive Vice President – Co-Head of Life Science.
Nexus on Grand is one of Healthpeak's three active development projects in the South San Francisco market. The project is currently under construction with an anticipated completion in the second quarter of 2023.
ABOUT HEALTHPEAK PROPERTIES
Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns and develops high-quality real estate in the three private-pay healthcare asset classes of Life Science, Medical Office and CCRCs. At Healthpeak, we pair our deep understanding of the healthcare real estate market with a strong vision for long-term growth. For more information regarding Healthpeak, visit www.healthpeak.com.
FORWARD-LOOKING STATEMENTS
Statements in this release that are not historical factual statements are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include those regarding the development of Nexus on Grand. All forward-looking statements are made as of the date hereof, are not guarantees of future performance and are subject to known and unknown risks, uncertainties, assumptions and other factors — many of which are out of Healthpeak's and its management's control and difficult to forecast — that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. These risks and uncertainties include but are not limited to: Healthpeak's ability to commence and complete the development, or portions thereof, in the contemplated timeframes or at all; the risk that Healthpeak may not be able to achieve the benefits of the development within expected timeframes or at all, or within expected cost projections; and other risks and uncertainties described from time to time in Healthpeak's Securities and Exchange Commission filings. You should not to place undue reliance on any forward-looking statements. Healthpeak assumes no, and hereby disclaims any, obligation to update any forward-looking statements as a result of new information or new or future developments, except as otherwise required by law.
CONTACT
Andrew Johns, CFA
Vice President – Corporate Finance and Investor Relations
720-428-5400
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SOURCE Healthpeak Properties, Inc.
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