Rob AriasSwitzerland-based Novartis AG announced yesterday that it will shutter its infectious diseases unit at its Emeryville office and cut about 140 jobs. Novartis moved the operation from the Boston area to our city seven years ago.
Emeryville has seen a flurry of real estate activity this year including being named The San Francisco Business Times’ Real Estate Deal of the Year for its Zymergen leases. The Mercury news announced the recent sale of the ‘Art.com’ building at 2100 Powell Street (soon to be adorned with an illuminated Tanium sign). In addition, Emeryville saw the acquisition of a five-building portfolio by Hackman Capital Partners that includes the ‘Thoroughbred Building’ used by Adobe (FKA TubeMogul) and ‘Jellybean Square’ nicknamed for once being an office used by Jelly Belly and its brightly colored post-modern design.
Property sales in Emeryville collect a 1.2% transfer tax that goes into our city’s general fund and is used for city administration, services & infrastructure projects.
Once with lofty plans, Novartis now closing East Bay unit, cutting 140 jobs
By Ron Leuty
Novartis AG will shutter its infectious diseases unit, closing an operation it moved from the Boston area to Emeryville seven years ago and cutting about 140 jobs.
The Switzerland-based company (NYSE: NVS) told employees Wednesday that it will shut down antibacterial and antiviral research — a move that affects a number of related work, such as pharmacology, protein sciences and informatics — while retaining the 150 employees who make up a tropical diseases unit the company moved a year ago from Singapore.
Read More on SF Business Times (paywall may apply) →
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Emeryville office tower bought in hot market for more than $170 million
By George Avalos
A big office building perched on the East Bay waterfront has been bought by a realty investment fund in a deal that points to a hot commercial property market and a robust economy.
The 2100 Powell Street office tower in Emeryville was bought by SPUS8 2100 Powell for $170.9 million, according to Alameda County property records. The buyer is an affiliate of CBRE Strategic Partners, the documents show.
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Hackman Capital Partners Enters East Bay Market Through Emeryville Office Acquisition
By Julie Littman
Los Angeles-based Hackman Capital Partners has entered the East Bay market through its purchase of an office portfolio in Emeryville. The five-building, 131K SF portfolio named Emeryville Exchange was 87% occupied by 16 tenants, including Adobe-owned TubeMogul, at the time of purchase. Several of the buildings have been converted from industrial to creative office and are in two parts of Emeryville and are 10 blocks apart.
Several of the buildings have been converted from industrial to creative office and are in two parts of Emeryville and are 10 blocks apart.
[…] The City of Emeryville provides a monthly progress report outlining significant developments and milestones that occurred throughout the period. Among the highlights for the two council meetings conducted during the month of July include the annual “State of the City” address given by the Mayor. Also of note in the highlights is the revelation that Novartis may be seeking to sell its Emeryville property in the wake of 140 announced employee layoffs. […]
[…] interested in buying and developing the Novartis owned parcels along Horton. Novartis recently laid off about half of their Emeryville staff and announced their intent to sell all of their Emeryville properties. Novartis holds […]
[…] Capital recently acquired a 5-building portfolio in Emeryville that included the Adobe building on 53rd as well as the “Jellybean […]