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Cushman & Wakefield Brokers Sale of Prime Life Science Development Site in South San Francisco

5/7/2020
BURLINGAME, Calif., May 7, 2020 – Cushman & Wakefield announced today the firm has brokered the off-market sale of a key development site of nearly two acres located at 580 Dubuque Avenue – currently known as South City Station. IQHQ, a premier life sciences real estate development company, acquired the property in the heart of South San Francisco from Republic Metropolitan.

South City Station rendering DESThe South City Station site is pursuing entitlements for a 213,000-square-foot development. Ben Paul, Executive Managing Director, with Cushman & Wakefield represented both parties in the transaction.

“The San Francisco Peninsula real estate market remains a global leader for the life sciences industry and has maintained superior market fundamentals even during these painful times amidst the pandemic,” said Ben Paul.

Paul added, “This site provide a unique opportunity for IQHQ to develop a Class A facility of scale at the South City train station within walking distance to brand new residential and the burgeoning downtown.” Ben Paul and Mike Moran of Cushman & Wakefield will be retained for the leasing assignment.

“We are thrilled to acquire the South City Station development site, which not only represents a significant project for the South San Francisco market, but a prized addition to our growing real estate portfolio,” said Tracy A. Murphy, President of IQHQ. “Once complete, South City Station will immediately meet the growing demand for premier life science real estate and R&D space in the thriving South San Francisco market. It will be developed to attract top talent.”

The property is located immediately adjacent to the future South San Francisco Caltrain Station expected to open in Spring of 2021 and will connect from San Jose into Downtown San Francisco. It is also near the San Francisco International Airport.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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Joshua Deale San Diego Communications Manager
Joshua Deale

Communications Manager • San Francisco

Mr. Deale leads strategic media relations and thought leadership efforts for the West Region markets, and oversees their online presence including managing article and social media efforts.