IQHQ And Spur Capital Partners Acquire Development Site In Berkeley For $48M

Developers IQHQ and Spur Capital Partners have acquired a 10.64-acre development site in Berkeley, CA, for $48 million. The site, located at 640 Gilman Street, will be used to construct a 900,000-square-foot life science campus called Gilman Gateway. The project aims to repurpose the former Pacific Steel Casting and Berkeley Forge and Tool sites, while also preserving some existing structures. The development is set to break ground in two years.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $48,000,000
• Acres: 10.64
• Address: 640 Gilman Street, Berkeley
• Market: Berkeley

Stephen Rosetta from IQHQ and Paul Fetsch from Spur Capital Partners were the key individuals involved in this transaction. IQHQ and Spur Capital Partners are partnering to develop the Gilman Gateway life science campus. The campus will offer state-of-the-art facilities for the life science industry in Berkeley, CA. With a focus on repurposing existing structures, this project aims to contribute to the revitalization of the area.