Example Corporate Representation
Case Studies
The following are a few of Mark Pearson’s Tenant Representation Case Studies. Mark’s focus has been on representing biotech and technology companies in their commercial real estate requirements.
156,000 SF
500 Forbes Blvd
South San Francisco, CA
Cell Genesys Headquarters
Client Objectives: Cell Genesys wanted to expand their facilities and consolidate (5) buildings into a single two story headquarters/laboratory building.
Results: Mark assisted Cell Genesys in the planning and negotiation of a build-to-suit lease with an option to purchase. Mark also represented Cell Genesys with the successful termination or their entire prior lease obligations.
450,000 SF
Hillview Avenue, Palo Alto, CA
VMware-EMC Corporation Corporate Campus
Client Objectives: Client wanted to own their own campus in the Bay Area and stay near the Stanford Research Park.
Results: Mark assisted VMware-EMC with the site selection in the Bay Area and identified Stanford Research Park as the most optimal location for VMware-EMC. Mark negotiated a 51 Year ground lease with Stanford University for VMware-EMC to build their own campus.
220,000 SF
Dumbarton Circle
Ardenwood Business Park, Fremont, CA
Genitope Corporation Campus
Client Objectives: Genitope needed to lease a new headquarters campus that would accommodate their growing headcount and need for a new gene therapy biomanufacturing facility. Genitope’s manufacturing need was for the commercialization of their MyVax Personalized Immunotherapy product.
Results: A 220,000 square foot corporate campus with options on adjacent land to accommodate up to 500,000 square feet
480,000 SF
249 East Grand Ave, South San Francisco, CA
Onyx Pharmaceuticals Headquarters
Client Objectives: In the evolution of the company, Onyx Pharmaceuticals had reached a point of “maturity” and desired to find an updated, state of the art facility to reflect the company culture and branding. Mark negotiated a three building campus with a development plan phase-in over a five year period.
Results: Mark was able to sublease all of Onyx Pharmaceuticals’ East Bay facilities and designed and orchestrated phase-in to their new built-to-suit campus. Onyx Pharmaceuticals was subsequently acquired by Amgen.
82,000 SF
800 Saginaw Drive, Redwood City, CA
Adverum Biotechnologies Campus
Client Objectives: In the evolution of the company, Adverum Biotechnologies desired to find an updated, state of the art facility to reflect the company culture and branding.
Results: Mark was able to leverage negotiations between multiple properties in order to obtain a transaction result which closely aligned with Adverum Biotechnologies’ underlying objectives. This included negotiating an above market tenant improvement package from the building owner, a phase in of the rent in a two building campus.
72,000 SF
900 Chesapeake Drive, Redwood City, CA
Bolt Biotherapeutics Headquarters
Client Objectives: Bolt, a rapidly growing biotechnology company occupied multiple sites in an ongoing sublease environment and desired to facilitate their anticipated growth in one larger contiguous space.
Results: Mark negotiated multiple off-market deals to allow for Bolt Biotherapeutics continued growth in the Seaport Center Business Park which had a 0% vacancy. Mark negotiated control of 72,000 square feet in two connecting buildings, while subleasing 25,000 square feet for 2 – 3 years while Bolt Biotherapeutics timed to grow into the full facility. Mark negotiated additional TI Allowance on top of a facility that had existing lab and office space that perfectly aligned with the near and long-term need.
96,000 SF
835 Industrial Rd, San Carlos, CA
ChemoCentryx Corporate Headquarters
Client Objectives: ChemoCentryx had been based in a single facility for the entirety of its 18-year existence. Following successful clinical and financing milestones, ChemoCentryx desired to accommodate its expected growth into a new, state of the art facility.
Results: Following an extensive market search which looked at multiple submarkets within the Bay Area, Mark was able to identify a planned Alexandria Real Estate Project with an ideal location, size profile and infrastructure to accommodate ChemoCentryx lab infrastructure. Mark was able to negotiate a transaction which obtained multiple market beating components in terms of rent and landlord funded improvements.
84,000 SF
Brisbane, CA
Sangamo Therapeutics Headquarters
Client Objectives: Renegotiate an unfavorable lease.
Results: Mark successfully renegotiated virtually every term of the lease while the building was under construction as a result of the client’s previous broker not understanding the lease requirements of a biotech company and essential GMP requirements.
500,000 SF
2000 Charleston Road, Mountain View, CA
Shoreline Business Park Alza Corporation Headquarters and Corporate Campus
Client Objectives: Alza Corporation occupied and owned four pre-paid ground leases that included eight buildings totaling 250,000 square feet in the Stanford Research Park in Palo Alto, California. The goal and objective for Alza Corporation was to consolidate into a campus of approximately 500,000 square feet in Mountain View, California and be adjacent to four other existing Alza facilities in Mountain View. Alza decided to own its real estate because of its extensive tenant improvement investment for laboratory research facilities.
Results: Successful completion of a 500,000 square foot build-to-suit 50/50 joint venture with Silicon Valley billionaire landlords Dick Peery and John Arrillaga for their corporate headquarters campus facility. In addition, Mark disposed of five buildings owned by Alza Corporation, which he sold to a real estate investment trust and two buildings sold to a real estate developer. Alza Corporation’s former corporate headquarters building was leased under a long-term lease to a major law firm, providing annual earnings per share benefit to Alza Corporation. All these activities were consummated prior to Johnson & Johnson acquiring Alza Corporation.