Johnson & Johnson's Joaquin Duato Leases R&D Building To Nurix Therapeutics' Arthur T. Sands In Brisbane

The property involved in this transaction is an office asset located at 1600 Sierra Point Parkway in Brisbane, California. This building encompasses a total of 159,959 square feet. It was previously utilized as a research and development facility by Johnson & Johnson before its closure as part of a strategic pivot toward different locations within California.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 1600 Sierra Point Parkway
• Market: Brisbane
• Square Footage: 159,959
• Landlord: Joaquin Duato - Johnson & Johnson
• Tenant: Arthur T. Sands - Nurix Therapeutics

The deal was finalized with Nurix Therapeutics signing a sublease agreement that extends through the year 2031. The agreement occurs against the backdrop of the Bay Area life sciences market, which is currently experiencing a 28.3% vacancy rate, with a notable decline in sublease availability for the second consecutive quarter.