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Sign in Sign up for a FREE subscriptionLongfellow Real Estate Partners receives $133m loan for life science lab in growing Californian market
Longfellow Real Estate Partners has plans to develop a new 190,000-square-foot life science lab complex in Emeryville, Calif.
The project received a $133.6 million loan from Citizens for the project.
The funds will be used for the acquisition and conversion of industrial warehouse space into Atrium Labs, a two-building lab project located at 1650 65th St. and 6601–6603 Shellmound St. in Emeryville’s growing life science hub.
According to a new report by CBRE, total Bay Area inventory of lab space reached 33 million square feet, second only to Boston, which has 51 million square feet.