Wareham Development In the News

JANUARY 20, 2009
Deals of the Year 2008
By CREJ Staff

EmeryStation East

DATE LEASED: April 2008

LOCATION: 5858 Hollis St., Emeryville

SIZE: 65,000 square feet

LEASE TERMS: Five-year lease with options to renew for two additional five-year terms. Rents at EmeryStation East are in the mid-$3 range on a triple-net basis. Tenant improvement allowances range from $150 to $200 per square foot.

PERCENTAGE OF THE BUILDING: 27 percent

LESSOR: Wareham Development

LESSEE: Joint Bioenergy Institute

BROKERS: Bill Nork, Jonathan Tomasco and R. Randolph Scott, Cornish & Carey, represented the lessor; J. Breck Lutz, Cornish & Carey, represented the Regents of the University of California.


To lease 65,000 square feet to the Joint Bioenergy Institute at its EmeryStation project in Emeryville, Wareham Development had to compete in a public process initiated by the newly formed consortium of six research groups and universities before they learned they won a U.S. Department of Energy grant for alternative-energy research.

The lease had to meet the standards of the lead negotiator, the University of California, Berkeley, and a separate review by the Department of Energy.

Wareham then oversaw design, permitting and construction of the facility to house functions under one roof that were spread across different campuses and states and to accommodate technology that didn't exist yet.

"Issues were constantly raised at different points in the process that created additional negotiations and complexities to meet the exact profile required by the [Department of Energy]," said Rich Robbins, president of San Rafael-based Wareham Development.

Robbins said the lease was significant for Emeryville because it brought another stellar research institute to the East Bay Biotech Corridor and the Bay Area life sciences cluster.

"It's also added weight to the urgency and potential of creating bioenergy that would be kind to the environment and to the pocketbook, freeing our country from its oil dependency," Robbins said. "This group of researchers has already attracted like companies seeking similar solutions."

- Mandy Jackson

About Wareham Development

Wareham Development is committed to the long-term economic and environmental vitality of the communities where we do business. During the planning process, we work closely with city and state agencies to ensure that each project provides maximum benefit to its surrounding community. And, unlike many developers who build projects only to sell them, we retain ownership of the majority of our developments, many of which have come to define the thriving technology corridor between the Bay and Richmond-San Rafael bridges.

The Wareham vision encompasses the spark and promise of small companies on the verge of growth, and large corporations whose fortunes span the globe. We are proud of our associations with all of our tenants, and feel deeply privileged to play a role in their success.