Big Hayward Business Park Land Buyer and Life Sciences Overhaul in Sight
HAYWARD – A large East Bay business park that could be transformed into a life science complex has been purchased by a Bay Area real estate investor.
Mount. The Eden Research Park on Industrial Boulevard in Hayward was bought by San Francisco-based GI Partners, according to JLL, a commercial real estate company that helped organize the real estate deal.
BentallGreenOak was the six-building campus vendor.
“Tenants’ demand for the life sciences space exceeds supply,” JLL said Tuesday.
The research complex totals 24.8 acres and has addresses ranging from 25801 to 25901 Industrial Blvd. to Hayward.
Brokers Will Connors, Rob Hielscher, Michael Leggett, Adam Lasoff, Erik Hanson, Daniel Renz, David Dokko and Michael Manas made up the JLL team that handled the transaction.
“Life sciences are currently one of the most popular asset classes,” said Hielscher, senior managing director of JLL.
Approximately 81% of the campus, which totals approximately 370,000 square feet, is leased. About 54% of that 81% is leased to biotechnology or life science companies.
“Demand drivers such as an aging population and increased attention to health that are not slowing down will support demand for the foreseeable future,” JLL executives said.