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1601 El Camino Real

Chan Zuckerberg Institute Leases 226,000 Square Foot Life Sciences Campus In Redwood City For $375 Million
LEASEDLife Sciences

Chan Zuckerberg Institute Leases 226,000 Square Foot Life Sciences Campus In Redwood City For $375 Million

1601 El Camino Real

Building Size

Asset Type

Life Sciences

Closing

Feb 3, 2025

AI

A 226,000-square-foot life sciences campus located at 1601 El Camino Real in Redwood City has been leased for approximately $375 million. The transaction represents one of the largest leases in San Mateo County and contributes to the life sciences sector in the Bay Area, despite current industry challenges.

Summary of transaction details:

The transaction features key individuals including Steve Rosetta representing the landlord, while Mark Zuckerberg and Priscilla Chan represent the tenant. The leasing firm Cushman & Wakefield is involved through Ben Paul, while CBRE and Newmark are represented by Matt Germino and Mike Courson, respectively.

Players

Ben Paul

Cushman & Wakefield

Broker

$34M

vol

3 deals

Broker

Redwood City Life Sciences Market Snapshot

Boundary boundary · Life Sciences · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93