Chinese development group blueprints $1B-plus biotech campus in South San Francisco
When real estate brokers landed the 42-acre waterfront site known as The Landing at Oyster Point in South San Francisco last fall, they oohed and aahed about its potential as a new biotech campus lying adjacent to Genentech, one of the pioneering founders of the industry. It already had a 443,000-square-foot business park in place, with potential for hundreds of thousands of additional space.
That all proved to be irresistible to a group of Chinese developers who are now planning to invest more than $1 billion into the property, with initial plans to add 500,000 square feet of office and lab space for the region’s booming biotech industry. Taotao Song, CEO of Oyster Point Development, LLC, and EVP at Greenland USA, a key player in the joint venture development group, had this to say:
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