Johnson & Johnson’s empty research and development building in Brisbane, California, is going to get a new tenant.
The health care giant is subleasing all four floors of its former facilities at 1600 Sierra Point Parkway to drug developer Nurix Therapeutics, the San Francisco Business Times reported. The space spans 159,959 square feet.
Nurix, whose current offices are at 1700 Owens Street in San Francisco’s Mission Bay, signed the sublease agreement in February; the deal expires in 2031. Other terms of the deal were not disclosed.
Johnson & Johnson announced its move into the space in 2022, calling it a “new state-of-the-art science facility” that would help change how the company “discover, develop and deliver innovative medicines faster and more efficiently,” according to a statement from the company at the time.
Less than 18 months later, in February 2024, Johnson & Johnson closed down the facility as it turned its focus to other parts of its “significant footprint in California” and the creation of a “new California Innovation Center,” according to Fierce Biotech.
Life sciences building vacancy in the Bay Area hovers around 28.3 percent with rents averaging about $70 per square foot, according to a recent Kidder Mathews report cited by the Business Times. Inventory currently stands at about 45 million square feet with another 2.5 million square feet under construction. At the same time, sublease availability dropped to 2.2 million square feet in the first quarter, down from 2.6 million in Q4 2024, marking a second straight quarter of positive net absorption.
Meanwhile, in the Los Angeles area, lab leasing fell sharply in the first quarter of this year, according to L.A. Business First, citing a JLL report. Though the life sciences market in L.A. saw an uptick through 2024, it fell off in the first quarter in the face of research funding cuts across the country, leading to what JLL believes is “a cautious approach by life sciences companies in their real estate decisions, influenced by macroeconomic, policy and funding uncertainties.” — Chris Malone Méndez
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