SOUTH SAN FRANCISCO—Last week, approximately 50 Corbion employees moved into new space within Genesis, a class-A two-building high-rise life science R&D/office campus. The food and biochemical ingredients company signed a new 51-month 32,355-square-foot lease in the building.

“Since we acquired the property in late 2015, Phase 3 Real Estate Partners has been focused on creating a fully committed biotech environment that fosters growth and collaboration of life science companies,” said BJ Van Aken with Phase 3 Real Estate Partners. “Genesis' environment is enhanced and strengthened by offering a sense of community and camaraderie driven by having a number of life science companies within one campus.”

Genesis is situated directly off Highway 101 at the base of San Bruno Mountain, providing visibility and freeway access. The building consists of South Tower located at One Tower Place, an existing 12-story property totaling approximately 340,000 square feet, and North Tower located at Two Tower Place, a 400,000-square-foot 21-story tower that is currently under development with completion anticipated in fall 2018.

“We believe that this collaborative, multi-tenant community checks all the boxes when it comes to technical space requirements for biotech companies,” said Newmark Cornish & Carey's Jay Leslie. “Additionally, it also provides a prestigious, highly visible location and employee-friendly amenities that help contribute to the quality of life for the professionals who work here. The space Corbion is moving into was market ready, which was ideal as the tenant was looking for a quick move-in.”

The lease with Corbion brings occupancy to 100% at South Tower. The Genesis project provides its life science tenants with a fitness center, Foccacia Market & Bakery that includes an extensive menu and catering, a performing arts center which holds more than 230 people, picturesque views of the Bay from the patio lounge and shuttle services to the main public transportation lines.

Leslie, Randy Scott, Mary Hines and Jennifer Vergara, along with Becka Studer of Phase 3 Real Estate Partners, are the exclusive leasing team for Genesis and represented the owner, Phase 3 Real Estate Partners Inc. in the transaction. Executive managing director Ben Stern of Newmark Cornish & Carey represented the tenant.

“Because of Phase 3 Real Estate's responsiveness, we were able to accelerate the deal which was executed in under two weeks,” Leslie tells GlobeSt.com. “The transformation of the project to R&D has been extremely successful in a short period of time primarily due to the vision and business-friendly mindset of Phase 3 Real Estate Partners.”

In addition to this lease, development continues in South San Francisco. City and county leaders and representatives from the developer gathered late last month to celebrate the groundbreaking of the first phase for Oyster Point's development. Construction for that phase will continue for approximately two years.

“This is the beginning of an incredible development for South San Francisco,” said South San Francisco mayor Pradeep Gupta. “We're making history as we transform this piece of remarkable land for residents and visitors to enjoy, which includes an improved Bay Trail and additional open space.”

The project includes infrastructure work for new office space as well as new public amenities and parks for Oyster Point. This phase of the project is a partnership between South San Francisco and Oyster Point Development LLC, the team managing the effort to revitalize Oyster Point.

“The project will strengthen our position as a biotech world leader,” said San Mateo County supervisor Dave Pine.

The project was approved by the city council in 2011. The approved plan calls for the transformation of approximately 80 acres of the Bay-front area into a sustainable mixed-use development that will include a life sciences campus, a park and recreation destination, a marina environment, and a site that can accommodate commercial and hotel uses.

“As Greenland USA has done with our investments in other US cities–Metropolis in Los Angeles and Pacific Park Brooklyn in New York–we are excited to contribute our vision and expertise to the Oyster Point Development here in South San Francisco,” says Gang Hu, president and CEO of Greenland USA, and chairman of Oyster Point Development LLC. “Guided by Greenland USA's vision, this leading biotech business hub will expand into an even more vibrant community: a location where local residents will want to live, work and play, and a destination with community as its focal point.”

Greenland is a joint venture by Greenland USA, Ping An Trust, Agile Group Holdings and SOW Capital.

“The project will strengthen our position as a biotech world leader,” said San Mateo County supervisor Dave Pine.

Greenland is a joint venture by Greenland USA, Ping An Trust, Agile Group Holdings and SOW Capital.

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