Healthpeak Properties Announces Latest Life Science Development - Nexus on Grand - in South San Francisco
Healthpeak Properties (NYSE: PEAK) has announced the construction of a new Class A lab development, Nexus on Grand, in South San Francisco. This five-story building will span approximately 141,000 square feet and will feature advanced lab-ready systems. Healthpeak aims to meet the increasing demand in one of the leading life science markets. This will be Healthpeak's third ground-up development in the area since 2015, following successful leasing at previous projects.
- Commencement of Nexus on Grand development to meet growing tenant demand.
- Strategic location in a top life science market.
- Healthpeak's proven track record in life science developments since the 1990s.
- None.
DENVER, March 18, 2021 /PRNewswire/ -- Healthpeak Properties, Inc. (NYSE: PEAK) announced today that it will commence construction of its Nexus on Grand development located at 233 East Grand Avenue in South San Francisco. The Class A development will consist of a five-story building totaling approximately 141,000 square feet and an adjacent parking structure. The purpose-built lab building will feature state-of-the-art design, prominent location on East Grand Avenue, flexible and efficient floor plates, and lab-ready building systems that will accommodate a number of life science uses.
"We are pleased to continue to grow our footprint in South San Francisco and meet the growing demand from tenants looking for a distinguished campus in one of the top life science markets in the world," said Scott Bohn, Healthpeak's Senior Vice President and Co-Head of Life Science.
Healthpeak is a pioneer of life science development in South San Francisco with a track record of delivering first class life science campuses in this market since the mid-1990s. Nexus on Grand will be Healthpeak's third ground-up development in the market since 2015, following its leasing success at The Cove at Oyster Point and The Shore at Sierra Point.
ABOUT HEALTHPEAK
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
Vice President – Corporate Finance and Investor Relations
720-428-5400
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SOURCE Healthpeak Properties, Inc.
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