DivcoWest, a DivCore Capital company, announced that IDEAYA Biosciences (NASDAQ: IDYA), a clinical-stage precision medicine oncology company, is coming to 5000 Shoreline. 5000 Shoreline is a 140,000 s.f. Class A building on the bay in South San Francisco’s Sierra Point life science cluster.
The long-term lease for 44,000 s.f. was signed earlier this month and gives IDEAYA access to state-of-the art lab space designed specifically for the firm’s needs and growth plans. Move in is expected in mid-2024. DivcoWest was represented by Chris Jacobs and Matt Jacobs of CBRE. IDEAYA Biosciences was represented by Grant Dettmer and Scott Miller of JLL.
DivcoWest acquired 5000 Shoreline last year as a vacant office building and immediately put in place a plan to convert the waterfront property to high quality lab use, upgrading building systems and infrastructure to appeal to life science users. The life science cluster surrounding the building is dominated by dozens of world-class life science ventures including AstraZeneca, Bristol Myers Squibb, and Janssen Pharmaceuticals.
Base building improvements include upgrading the electrical service to 4000 amps, replacing of rooftop mechanical units and the addition of a 1,200kW emergency generator. DivcoWest is installing two additional service elevators, a new gym as well as upgrading the building’s common areas to include meeting spaces.
Coming Soon: Spec Suites
The three-story building can accommodate tenants from 10,000 to 80,000 s.f. DivcoWest is in the process of fitting out 10,000, 13,000, and 20,000 s.f. spec suites offering lab space, lab support areas, offices, conference rooms, lounges, and lobbies. Spec suites will be available for occupancy in Q1 2024.
5000 Shoreline offers abundant parking and is less than a 15-minute drive from downtown San Francisco and ten minutes to SFO. The building’s waterfront location also puts it on the San Francisco Bay Trail, a 350-mile network of connected walking trails, bike paths and parks. The trail provides foot and bike access to the Alameda-Oakland-South San Francisco ferry situated just across the Oyster Point Channel.