Tenant
Term
(months) Base Rent Escalations Use
Employment Projections Reported by
Applicants Financial Analysis
Rain Industries, Inc.
autonomous aircraft research,
design & manufacturing --
wildfire containment
120 $31,321.50 ($1.50/SF) 3.50% • Research & development facility for developing prototypes of our autonomous aircraft:
→ computer-aided design [CAD]
→ soŌware development
→ light manufacturing
• Headquarters for business operations (including logisitics and finance) Current: 12 employees
December 2022: 32 employees
Rain was founded in 2019 and operates at a loss while it focuses on development and initial pilot demonstrations of its autonomous aircraft networks for containing wildfires. The company will require additional capital investment in the near term to maintain viability and support work toward initial service deployments of its product, expected in 2025. To that end, Rain is planning a $25 million “Series A” venture capital fundraising round this fall, which is estimated to be adequate to support the company’s operations for a period of years. The company provided a support letter from its venture capital investor, DBL Partners, expressing an intent to support the company through this planned fundraising and to make a substantial additional investment. In addition to the planned “Series A" fundraising, the company will also require subsequent rounds of venture capital investment and/or revenue generation to maintain operations over the full term of the proposed 10- year lease. The company has offered to deposit an initial year of rent in an escrow as additional security for rent payments in the initial lease year.
Saildrone, Inc.
wind and solar powered
autonomous vehicle research,
design & manufacturing -- ocean
data collection
60 w/ one
60-month
renewal
option
$31,321.50 ($1.50/SF) 3.00% • Extension of current headquarters at Building 12, located at 1050 West Tower Avenue, Alameda Point
• Tower would mainly be offices, conference rooms, and small group colloboration space:
→ Design group (hardware engineering, software engineering, and dev ops) → ExecuƟve Officer offices
→ MarkeƟng and General & AdministraƟve groups (including finance, accounƟng, HR, IT, and other associated services)
• Adjacent shed facility would be used as machining shop by Hardware Engineering group for design and development of new drone models
Current: 145 employees
December 2022: 252 employees
Saildrone is an early-stage technology company founded in 2012. Saildrone operates at a loss while making significant investment in research and development (R&D) and production of its autonomous wind and solar-powered ocean drone product line. Saildrone has financed its operations and R&D activities through infusions of investment capital.The company has limited debt on its books relative to its balance sheet. The company secured $100 million in new venture capital funding in 2021 and, as of December 2021, has available cash and short-term investments adequate to sustain the company's operations at their 2021 levels for a period of years, although an expansion in operations is expected. A continuation of investment capital infusions, improvement in net revenues, or reduced spending would be necessary to sustain the company's business for the full duration of the proposed 5- year lease term.
Summary of Building 19 Proposals