Newly Completed EmeryStation West Secures Third Lease

Zogenix, a pharmaecutical 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.

“We are delighted to welcome the Zogenix team to EmeryStation West and gratified that our relationship with them continues at our EmeryStation campus,” Wareham partner Geoffrey Sears said in a statement Tuesday.

Zogenix plans to move into the new offices by the end of the second quarter, according to a filing with the Securities and Exchange Commission. The lease will be at a monthly base rate of $3.92/SF, subject to certain conditions and annual escalations. It provides for a tenant improvement allowance of up to $83/SF. The lease is set to expire in 2027, with one five-year renewal option.

EmeryStation West topped off in May 2017 and was recently completed as part of the 2M SF EmeryStation research and tech campus. It was designed to meet LEED Gold standards.

Previous leases in the building were for 18K SF for Profusa's new headquarters (the company is moving from South San Francisco) and 75K SF for Dynavax Technologies, which is moving from Berkeley.

Wareham's portfolio has more than 4.5M SF. It has other mixed-use, multi-tenant research and tech campuses in Berkeley, Richmond and Palo Alto. At its Aquatic Park Center in Berkeley, the company recently announced that longtime tenant Caribou Biosciences would expand its lease by 23,500 SF to occupy 50K SF.

Wareham and Zogenix each represented itself in the latest lease.