E’ville Biz: WeWork expanding to Emeryville, Zogenix latest EmeryStation West Lease, Historic Westinghouse Building Sold
Ellis Partners has purchased a historic brick warehouse on the corner of Halleck and Park Avenue for $6.3 million. The former Westinghouse Pacific Coast Brake Company was built in 1912 to manufacture air brakes for the asian market. The western section of the building is currently occupied by Editions Limited who publish and distribute fine art reproductions (the below press release erroneously describes the property as “vacant”).
WeWork, the world’s leader in co-working spaces, announced a major East Bay expansion including Emeryville. WeWork has leased four floors at the Watergate Office Tower at 1900 Powell Street which shares occupancy with Regus, Specialty’s Cafe and MobiTV among many others. Seats at the Emeryville space are expected to be around $370/mo.
Wareham continues to pile up the leases at its nearly complete EmeryStation West office tower. Last month they announced that Profusa and Dynavax had executed leases. This month, they’ve announced that pharmaceutical company Zogenix has signed a lease for 37K sq. ft. Zogenix develops and commercializes therapies for the treatment of central nervous system disorders in the US.
Newly Completed EmeryStation West Secures Third Lease
Zogenix, a pharmaceutical company, is growing its Emeryville footprint, signing a lease for 37K SF in Wareham Development’s EmeryStation West.
The lease is the third for the newly built 265K SF project, which has lab and office space on seven stories above a two-story transit center and parking podium, at Wareham’s EmeryStation research campus in Emeryville, Wareham reports.
Zogenix will move its Emeryville headquarters from 22K SF at the EmeryStation I building to its new offices on the fifth floor of EmeryStation West. The company is a longtime Wareham tenant.
Read More on Bisnow.com →
Ellis Partners Buys Vacant Building in Emeryville for $6.3MM
San Francisco-based Ellis Partners has acquired the 19,000 square foot building located at 4090 Halleck Street in Emeryville for $6.3 million, or just over $331 per square foot, according to sources familiar with the acquisition of the property.
Ellis Partners would not comment on what it paid for the property. The company used its own capital to acquire this asset.
The seller of the building was an end-user that was in the art re-printing business. It had sold the business a couple of years ago and no longer had any use for the building. The seller was represented in the sale by San Jose-based HealthMed Realty. The person working on the sale for the company was Kevin Heravi, co-founder of the firm.
Read More on EllisPartner.com →
Oakland, Emeryville, Berkeley are WeWork major expansion sites
By George Avalos
WeWork on Tuesday disclosed plans for a major expansion of its operations in the East Bay, saying it will jump into office buildings in downtown Oakland, as well as Berkeley and Emeryville.
All told, WeWork will add 2,900 desks to its presence in the East Bay with the new leases. At present, WeWork has 2,000 desks in the East Bay, according to Samantha Roxas, a spokeswoman for WeWork.
Read More on MercuryNews.com.com →