GI Partners, a leading private investment firm, continues its strategy of acquiring and managing technology life sciences enabled real estate by announcing the acquisition of 130-150 Shoreline Drive in Redwood City, California.
SAN FRANCISCO, CA, April 28, 2020 – Auris Health, a subsidiary of Johnson and Johnson, leases 100% of the 81,600 square foot property for their corporate headquarters as well as for the firm’s primary R&D and light manufacturing operations. The property was recently retrofitted in 2017 and provides state of the art lab and manufacturing space for Auris’ development of bronchoscopy diagnostic and therapeutic procedures.
“We are excited to develop a relationship with Auris Health and expand our life science footprint in the San Francisco Bay Area. The acquisition of Shoreline Science Center represents our growing commitment to the life sciences industry,” commented John Sheputis, Managing Director at GI Partners and Head of Acquisitions for GI’s technology real estate investment programs. “Along with our long history of investing in data centers and other technology enabled real estate, our expanding life sciences real estate holdings reflect our belief in the underlying life sciences fundamentals. The Shoreline transaction also demonstrates the GI team’s ability to complete transactions in today’s very challenging economic environment.”
This property adds to the technology and life sciences real estate portfolio owned and managed by GI Partners, which now totals 34 properties comprising 8.4 million square feet across 14 different leading markets.