Healthpeak Properties, Inc. has announced the approval of entitlements for Phases II and III of its Vantage purpose-built lab development campus in South San Francisco. This will allow the Denver-based company to add an additional 1.3 million square feet of lab space, bringing the total campus size to approximately 1.7 million square feet upon completion.
According to Scott Bohn, Chief Development Officer at Healthpeak, these new phases will provide a strategic development pipeline that meets the growth needs of both current and future tenants. The company has established a collaborative relationship with the City of South San Francisco over three decades and is grateful for their support in furthering biotech innovation through projects like Vantage.
Construction on Phase I began in 2022 and includes two buildings totaling 343,000 rentable square feet as well as a 40,000-square-foot amenity building. Currently at 52% occupancy with Astellas Pharma as its main tenant, Phase I is expected to be completed soon.
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