Economic Development Office Update February 2023
Sierra Point Properties:
Phase 3 – (Genesis Marina)-
Their parcel in the NW corner is listed on their website as “Genesis – Marina” and is continuing to proceed under construction. The current planned completion date for occupancy is the third quarter of 2023. The project (560,000 SF) is starting to take shape with the steel and glass already erected for the three buildings and the concrete is being poured and finished currently for the plaza element of the project.
The project is being built to the LEED Gold standard and has been pre-certified as the world’s first TRUE construction site. This certification by the Green Business Certification Inc. (GBCI), certifies that over 90% of the construction “waste” from the construction of the building and site is used for other uses and not diverted to landfills and incineration.
It is our understanding that 2 of the 3 buildings have been pre-leased, with life science company FREENOME being the major tenant. We coordinated a meeting with the Freenome construction and planning team in 2022 and they are working with planning and public works on their planning process for their labs and the other future tenant improvements to the site.
Healthpeak (formerly HCPI) –
the group is continuing to finalize their work on the “The Shores at Sierra Point “ Tenants such as Janssen (Johnson & Johnson), Myacardia, Bristol Myers Squibb, and Annexon have moved into the project.
Healthpeak have also made inquiries into building additional buildings and a parking structure on their “The Towers at Sierra Point” project site. (Formerly the Hitachi building site).
Brisbane Quarry - We are continuing to work with Tyler Higgins. His Orchard Properties development group have made several presentations to the city council regarding their planned 950,000 SF warehouse project and quarry reclamation project. The developer is continuing site planning with ingress/egress road planning and other site planning. They have received approval for the consultant that will handle the EIR process, continuing steps to eventually close the quarrying operations and a reimagining of the use of the property. Orchard Properties is continuing with the environment review process for the site.
Economic Development Office Update February 2023
Other Items:
- 25 Park Lane: Planning is continuing with the design and eventual interior remodel of the building and the eventual relocation of various city departments. The process is continuing with the development of floor plans and the placement of the departments, relating to Brisbane City staff and the North County Fire Department. - Crocker Industrial Park – The business park is in a very strong position with 100% leased occupancy being reached in January 2023. This is a historic moment in time snapshot and a long way from the 40% vacancy rate that we were faced with in 2013-14. The park is vibrant with many changes over these past 10 years, with new companies (such as Amazon Fresh, TROVE, Vitalant, and GrassDoor, replacing companies such as Monster, BEBE, Charles Schwab, and others. (Recently, the firm PSAV, a global audio visual and convention services provider, purchased one of their larger rivals, Encore, and have renamed the entire company using the ENCORE name).
- We have also received information that the boutique specialty food firm, Pacific Gourmet, has possibly been purchased by BiRite – we are working to confirm that information.) - Clear Channel Advertising - I had a productive meeting with Clear Channel Advertising last week to discuss their project proposal regarding their highway billboard at the North end of Brisbane, adjacent to highway 101. There have been some staffing changes at CC, and I have met with the new person who is very interested in getting on our Eco Dev subcommittee agenda to try and restart the project as several CC staff members have retired or have been reassigned.
- San Francisco Business Times- The City of Brisbane will be featured in a “Hot Business location” type of piece in one of the March editions of the SF Business Times. SFBT staff writers are working on the piece currently and may be reaching out to the city for information. I did a drive around with one of their staffers last week. More information to follow as we receive it.
- Updated Economic Development 10-year Recap – I have been working on drafting an updated report on the Economic vitality and current benchmark within Brisbane for the period since the last large report (2013). I am collecting information from local and regional real estate professionals, the city finance department staff, and from the US Census Office. I am planning to have a draft of the report available by mid-March at the latest.
Economic Development Office Update February 2023
- Cannabis Centric – I am still fielding several calls per week relating to groups that are interested in finding space for a cannabis dispensary for retail sales. It should be noted that the City of San Bruno has approved legislation for possible retail dispensary locations.
No changes since last report.
- 99 Park Lane -Ample EV Battery Company has taken possession of 99 Park (formerly Bakers of Paris) and are operating an EV battery platform assembly site there. They are also looking for another space for an EV battery platform “swapping” station within Brisbane and are working with the Planning department on that project. I have also given them information on other Brisbane sites for another 50,000+ sq ft need that they are planning for. (Temporary short-term battery swapping station sites have not been approved by the Council)
- CareDx -I am also working with Brian Storeock of CareDX on potential expansion. (They have moved a large portion of their HQ from the Brisbane Technology Park on Bayshore Blvd. to 8000 Marina Blvd. on Sierra Point.)
- Brisbane Village Shopping Center – we were able to work with the shopping center management to have the graffiti painted out, paper on vacant windows. Nothing new has happened since our last report.