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Oxford Properties’ $173M Bay Area Life Sciences Play

by cpexecutive.com posted 4months ago 33 views
The company continued a biotech streak by acquiring a mixed-use building with lab conversion potential in Emeryville, Calif.: Oxford Properties Group has paid $172.7 million for a mixed-use building in the Bay Area and will convert part of the property into lab space, continuing a streak of life sciences investments by the Toronto-based real estate giant. The company snapped up Foundry31, a 402,700-square-foot asset at 3100 San Pablo Ave. in Berkeley, at the boundary with Emeryville and Oakland. LBA Realty sold the property, a former factory that was repositioned as a work and gathering place with 125,000-square-foot floorplates.

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