|By Marketwire .||
|December 21, 2012 03:43 PM EST||
SAN FRANCISCO, CA -- (Marketwire) -- 12/21/12 -- The San Francisco office of Kidder Mathews (http://www.kiddermathews.com/locations/sanfrancisco.php) has completed the successful sell of one of the Bay Area's largest commercial parcels, the Bayer HealthCare campus at 2600 Hilltop Drive in Richmond, California across the Bay from San Francisco. The buyer is a major Chinese biopharmaceutical company that will be announcing their plans for the site in early 2013. The purchase price is undisclosed.
Spread over 53 acres with incredible Bay view, the campus is comprised of 355,000 square feet of laboratory and office space in six buildings and is entitled for a total of 1 million square feet of land for future development.
Bayer HealthCare moved out of the facility in 2010 when they relocated research operations to a Mission Bay Campus in San Francisco.
"This will act as a bridge for Chinese pharmaceutical companies who want to come to the Bay Area," said Skip Whitney, Partner of Kidder Mathews and founder/head of the firm's China Services Group. "This perfect example signifies a new wave of investment by Chinese investors looking into opportunities in the Bay Area. The reason they chose Richmond and the Bay Area is the innovation and the proximity to UC Berkeley, Livermore Lab, UCSF and Mission Bay. The Campus of 53 acres will allow for long-term growth in one facility."
According to Whitney, his client feels that the innovation of UCSF and Mission Bay will provide them exciting partnership and collaboration opportunities as they develop the Hilltop campus.
"With the recent announcement of the Hunters Point Shipyard and Treasure Island financing of 1.7 Billion USD by China Development Bank, this provides a Seal of Approval by the Chinese Government for investment in the Bay Area. This is the first wave of major Chinese investors which will be critical to the San Francisco Bay Area in the years to come," said Whitney. "I believe that Chinese investments will be equal to or greater than Japanese investment we say in the past."
Kidder Mathews opened its China Services Group (CSG) in March 2012. As the only China-focused cross-Pacific real estate group in the U.S., CSG sees the increasing flow both business-wise and personal-wise between China and US and that is how CSG was set up to help. CSG is headquartered in San Francisco with Skip Whitney, Executive VP of Kidder Mathews, and supported by the bilingual staff fluent in both Mandarin and English. Whitney has been doing business in China for 30 years. The Group offers advisory, brokerage and property management services to Chinese companies looking to invest in the United States, and vice-versa. Kidder Mathews Life Science Practice Group also participated in the transaction. The Kidder Mathews Life Science Group represents companies such as Amgen, BMS and the Mission Bay Campus in San Francisco.