BentallGreenOak (BGO) and Graymark Capital have begun construction on a two-story, 36,000-square-foot life science development at 2225 E. Bayshore Road in Palo Alto, Calif., which represents the first of a three-phase development to convert former office and R&D buildings into lab space.
This first phase will convert an existing office building into market-ready lab spaces across two floors with upgraded electrical capacity, new once-thru mechanical systems, new office space, amenities, and dedicated parking.
The 100,000-square-foot Bayshore Bio life sciences campus was initially acquired by BGO and Gray Matter in June of 2021. The three former office and R&D buildings are being converted into modern lab space with a 60/40 lab-to-office ratio for biological research and development. The spaces are designed for early-stage VC-backed life science companies, including Stealth, Series A and Series B.
“The life sciences market, especially in the Bay Area