Recent Transaction: Santen Inc. signs two floor lease in Emeryville
April 11, 2011
Mihalovich Partners is pleased to announce that, on behalf of Santen Inc., we have negotiated and completed a 50,000 square foot lease at 2100 Powell Street in Emeryville.
Entire 15th & 16 Floor—50,000 square feet
San Francisco—Santen Inc., a wholly-owned subsidiary of Santen Pharmaceutical Co., Ltd., Osaka, Japan, currently located in Napa, has signed a new long-term lease for the entire 15th and 16th floors of 2100 Powell Street, Emeryville. 2100 Powell is owned and managed by Hines and was recently certified LEED Gold. Santen will relocate its U.S. corporate headquarters to 2100 Powell in early July 2011.
“In the preparation of our new strategic plan we can see that there will be substantial expansion of the organization and we could not have accommodated this growth in the existing facility in Napa,” stated Akihiro Tsujimura, Chief Operating Officer (COO) of Santen Inc. “Since we will experience a significant demand for new staff we believe that the new location will make it easier to recruit the highest quality talent as we will have increased access to the greater San Francisco Bay Area bio-pharmaceutical talent pool.”
In addition, it was noted that the increased interaction between the Company’s Japanese and European colleagues was a secondary driving force behind the relocation, seeking a more convenient location for international transportation.
“Emeryville provides an excellent centralized location that provides easy access to both Oakland and San Francisco airports which will facilitate increased collaboration between our corporate and regional R&D organizations. Collaboration among our regional R&D organizations is a cornerstone of our strategy to accelerate our clinical development timelines,” said Toshiaki Nishihata PhD, President and CEO of Santen Inc. “From this site we also have easy access to UC San Francisco, UC Berkeley and Stanford, rich sources of intellectual capital and support for our R&D initiatives.”
Dan Mihalovich, broker for Santen, echoed the sentiments about Emeryville. “We conducted an exhaustive comparative study of alternative buildings for our client in the East Bay and Peninsula markets. Our negotiations with Hines proved out that 2100 Powell offered the most attractive combination of high quality and efficient space; compelling economics; spectacular amenities; and first class building ownership and management. Our Team, which included Huntsman Architectural Group and Principal Builders, developed a terrific fit for Santen and anticipate an optimal environment for them to succeed in this new U.S. headquarters facility.”