Located in the Vintage Park submarket of Foster City, the office/R&D/lab building is situated on 5.69 acres and totals 126,345 rentable square feet. 1149 Chess Drive features 67,000 square feet of office space, 18,000 square feet of lab space and 41,000 square feet of R&D/warehouse/amenity space. Harvest successfully facilitated the simultaneous acquisition of the Property by the joint venture and a long-term lease with a tenant for the entirety of the formerly vacant Project. The lease, which commenced upon closing of the acquisition, was structured as a long-term deal and simultaneously mitigated new ownership’s stabilized investment costs and future lease-up risk.
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