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BioMarin Pharmaceutical expands in Novato
Loralee Stevens, Business Journal Staff Reporter
Monday, August 16, 2010, 4:04 am
Categories: Commercial Real Estate, Industry News, Position - don't use this category, Technology, Top News Stories | No Comments
NOVATO – BioMarin Pharmaceutical Inc. is expanding across Hwy. 101 into 20,000 square feet on Wood Hollow Drive.
The move will free up space in the pharmaceutical developer’s eight-building campus on Bel Marin Keys, said Mark Wood, director of human resources.
Initially, about 30 employees in administrative positions will make the move, less than 10 minutes away from the main buildings, no later than November, he said.
The former GreenPoint Mortgage building at 100 Wood Hollow Lane has been vacant since the mortgage company went out of business three years ago.
“It’s coming out of dormancy,” said Brian Eisberg, a senior vice president for Cornish & Carey Commercial, which represents the building for its owner, a division of ING Clarion.
“It’s a great location for people coming from Sonoma County or Napa or Solano counties because it’s at the edge of town,” he said.
“Their added fiber redundancy gives a lot of extra zing for tenants who need telecom and fiber capabilities,” said Mr. Eisberg.
According to Mr. Wood, there’s vacant space on Bel Marin Keys, but the high quality, size and availability of Wood Hollow made it preferable to BioMarin.
There was very little work to be done before the move. The closer proximity to the Buck Institute for Age Research, with which BioMarin interacts in educational and research programs, was also reportedly a plus.
BioMarin (NASDAQ:BMRN), which develops and markets therapies for rare diseases – mostly involving enzyme deficiencies – is growing along with its portfolio of products, according to Mr. Wood.
The company has several therapies on the market in the Americas and Europe presently, several in the clinical approval process and others in early-stage development, he said.
In addition to the 700 employees who work in BioMarin’s Novato headquarters, the company employs 800 more in branches scattered from Brisbane to 25 countries worldwide.
“Our location in Bel Marin Keys was at capacity. Our lease at Wood Hollow is flexible, with room to grow in the leased space and room to expand beyond it,” said Mr. Wood. “It was ready and so were we.”
The three-and-a-half-year lease was arranged by Haden Ongaro and Mark Carrington of Cornish & Carey Commercial, who represented the landlord, and Mark Maguire of Colliers International, who represented BioMarin.
Link to article: http://www.northbaybusinessjournal.com/23874/biomarin-pharmaceutical-expands-in-novato/
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