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Healthpeak Properties lands new tenant for San Francisco campus development

Healthpeak Properties Inc. signed a long-term lease with Janssen BioPharma Inc.

The company, which is part of the Johnson & Johnson Family of Cos., will occupy roughly 60% of phase II at The Shore at Sierra Point campus in South San Francisco on completion of its construction, expected in January 2022.

Under the terms of the lease, Janssen has expansion rights that can be exercised over the course of 2020.

Phase II of the five-building campus, which totals 620,000 square feet on a 23-acre site, includes an addition that will link the two class A life sciences buildings across three of the four floors. It spans 298,000 square feet, up from its initial planned space of 266,000 square feet.

Phase I, which covers 222,000 square feet, is nearing completion and is already 100% pre-leased to two tenants.