Healthpeak Properties Plans 343K-SF Life Science Build in South SF
Vantage will feature two purpose-built life science buildings and a 30,000-square-foot amenity center.
Healthpeak Properties has announced plans to build Vantage, a 343,000-square-foot life science campus in South San Francisco. The property will feature two purpose-built life science buildings and a 30,000-square-foot amenity center. It will break ground by the end of the year, and it is scheduled for delivery in late 2023.
This is Healthpeak’s third active development in the area. It also has The Shore at Sierra Point and Nexus on Grand, which have both experienced strong leasing activity. All three are actively under construction. Vantage is part of the firm’s expansion plans in the area to meet growing tenant demand.
In addition to South San Francisco, the firm is also active in the San Diego market. In June, the firm started construction on a new life science property in San Diego. The property, known as Sorrento Gateway, is a 163,000-square-foot class-A life science property in Sorrento Mesa. This is Healthpeak’s third ground-up development in the market since 2020.
Like Vantage, the firm’s San Diego development pipeline is also intended to meet growing market demand. San Diego is one of the top three life science markets in the country with more than 20 million square feet of inventory and more than a dozen research institutes and universities that help to attract billions in capital investment to the market. Life science employment is double the national average at 13.5%.
The same month, Healthpeak also signed a lease with Turning Point Therapeutics Inc. for the entire Callan Ridge densification project, which is located in Healthpeak Properties Inc.’s more than 20-acre Torrey Pines Science Park in San Diego’s Torrey Pines submarket. Upon construction competition, Callan Ridge will be a 185,000-square-foot, two-building campus. The class A campus will feature flexible floorplates, as well as building systems designed to support life science uses.
Vantage is located along the Rails to Trail pathway, a pedestrian connection to downtown South San Francisco’s restaurant and retail corridor, and a Caltrain station, which is undergoing a renovation.