2017 Deal of Year – Chan Zuckerberg Initiative Pre-Lease

MARCH 22, 2018

Why it won: Facebook co-founder Mark Zuckerberg and wife Dr. Priscilla Chan’s philanthropic organization has big ambitions, such as a $3 billion push to cure all diseases. It also needs office space and signed one of the Peninsula’s biggest leases in recent years, taking most of 2075 Broadway in Redwood City.

The deal helped kickstart construction of developer Lane Partners’project in October, with an opening date in June 2019. The concrete building includes 15-to-20-foot ceilings and two outdoor terraces.

In addition, the Chan Zuckerberg Biohub opened in San Francisco’s Mission Bay, and CZI recently gave $5.5 million to the University of Massachusetts Amherst’s Center for Data Science.

Chan Zuckerberg Initiative Lease

Address: 2075 Broadway, Redwood City

Size: 92,000 square feet

Landlord: Lane Partners

Tenant: Chan Zuckerberg Initiative

Landlord brokers: Mike Moran and Brad Altick, Cushman & Wakefield

Tenant brokers: Mike Corson, Newmark Cornish & Carey and Matt Germino, CBRE

Contractor: Devcon

Architect: Korth Sunseri Hagey

Engineer: Nishkian Menninger

Law firm: Farella Braun & Martel

“The lease negotiation itself was complicated by the fact the building didn’t exist. The lease was negotiated many months before construction could commence. (This) required a much higher degree of trust and cooperation than a typical lease negotiation.”

— Mark Murray, principal, Lane Partners