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San Francisco

Exelixis grows footprint in Alameda with 100K sf lease

Biotech firm now has almost 575K sf around East Bay headquarters

Exelixis' Michael M. Morrissey, 1410 Harbor Bay Parkway and 1951 Harbor Bay Parkway (Exelixis, Brick-Inc, Getty, Loopnet)
Exelixis' Michael M. Morrissey, 1410 Harbor Bay Parkway and 1951 Harbor Bay Parkway (Exelixis, Brick-Inc, Getty, Loopnet)

Four years after moving its headquarters to Alameda, Exelixis has expanded its roots.

The biotech firm has leased 100,000 square feet at 1410 Harbor Bay Parkway for use as another laboratory, the San Francisco Business Times reported, citing an unidentified source close to the deal.

The building is owned by Invesco, based in Dallas, which bought it among six buildings known as The Loop in June 2021 with $99.2 million in financing. Terms of the lease were not disclosed.

The lease is the latest for Exelixis since it moved its base to Alameda from South San Francisco in 2018.

The company has more than 250,000 square feet at its headquarters at 1851 Harbor Bay Parkway. Last summer, it began a lease for a build-to-suit facility of 220,000 square feet next door at 1951 Harbor Bay Parkway, according to the Business Times.

In March, San Francisco-based Stockbridge Capital Group bought the building at 1951 Harbor Bay Parkway for $158.9 million in an all-cash deal.

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Exelixis’ new lease a few blocks away will bring its footprint in Alameda close to 575,000 square feet.

Exelixis, which develops genomics-based cancer therapies, is investing heavily in research and development and expects to employ 1,200 people by the end of the year, mostly in Alameda, CEO Michael Morrissey told the newspaper.

The publicly traded company, founded in 1994, reported $411.7 million in revenue at the end of the third quarter, according to regulatory filings, up from $328.4 million in the same period last year.

Brokers Mark Kol, Michael Raffeto and Austin Hinder of CBRE held the lease for 1410 Harbor Bay Parkway, marketing materials show. Broker Gregg Domanico of Kidder Mathews represented Exelixis.

The Bay Area had the nation’s second-largest life sciences inventory in 2021, with 32.7 million square feet, according to CBRE. Boston-Cambridge led the nation with more than 42.1 million square feet.

— Dana Bartholomew

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Alameda CABiotechCommercial Real EstateHQInvescoLaboratoryLease