January 20, 2022 Breaking News, Latest News, and Videos

100,000 Square Foot Biotech Lab and Offices Planned for Pico Boulevard

Pico and Sepulveda development proposed

By Dolors Quintana

A 100,000 square foot biotech lab space with offices is planned for Pico Boulevard in West Los Angeles. 

Life Science developer HATCHspaces and health care systems developer NexCore Group have joined forces on a proposed development at Pico and Sepulveda as reported by Urbanize Los Angeles. The project would be the redevelopment of a strip mall located near the Expo Line’s Pico and Sepulveda station. 

This would be their third collaboration on such a building project and the building would be five stories tall with 100,000 square feet of office space that would be wet lab capable, which is in short supply in Los Angeles. Most of the burgeoning office space market in Los Angeles is being snatched up by entertainment and technology firms, but this development is aimed squarely at an entirely different market. 

“The greater Los Angeles market has matured to the point where large blocks of technically specific space is an immediate need,” HATCHspaces co-founder Allan Glass in a statement “Most of our wet lab portfolio is at full capacity, and there are several large block tenants actively in the market. We’ve had multiple major pharmaceutical and biotech companies reach out to us hoping to expand into LA from top clusters like San Francisco, San Diego, and Boston in order to tap into the deep and diverse pool of experienced talent already in the region.”

HATCHspaces records show that the vacancy rate for life science and biotech companies in the Los Angeles area is 1.5%. There have been recent attempts to welcome this industry in the area of Culver City at BioScience LA and in the Harbor Cities at Biotech Park, but HATCHspaces and NexCore Group see another opportunity to increase the space near the Expo Line especially since the City has encouraged mixed industry and residential use of land along the Expo corridor as reported by Urbanize Los Angeles and cited by HATCHspaces and NexCore as their motivation.

Related Posts

Santa Monica Vons’s Development Sees Design Changes

January 14, 2022

January 14, 2022

Santa Monica’s 710 Broadway development design changes shown in new renderings By Dolores Quintana The 710 Broadway Project developer has...

Santa Monica’s Future: Will Developers or Residents Rule? – Part 2 Our Downtown

January 14, 2022

January 14, 2022

This is the 2nd of five weekly articles looking at the history and current condition of Santa Monica’s beachfront environment...

A New Years Glimpse Into Santa Monica’s Future: Will Developers or Residents Rule?

January 7, 2022

January 7, 2022

It’s a New Year, a make-or-break year for Santa Monica!! How much do you care about your city and it’s...

NYC-Based Developer Finalizes Acquisition of Major Santa Monica Residential Development Site

January 7, 2022

January 7, 2022

Tishman Speyer to begin construction in late 2022 on its first LA-area residential project By Sam Catanzaro An NYC-based developer...

Opinion: Attorney General Spurs on Big 2022 Housing Battle

January 7, 2022

January 7, 2022

By Tom Elias, Columnist There will be plenty of political battles next year, starting with likely reelection challenges to Gov....

NYC Developer Buys Eight Downtown Santa Monica Properties

December 17, 2021

December 17, 2021

Tishman Speyer snags prime Downtown Santa Monica real estate By Dolores Quintana Scott Walter’s land development company WSC put 23...

Stagnant Rent Growth Forecasted for Westside Cities and Neighborhoods

December 17, 2021

December 17, 2021

Lusk Center for Real Estate at USC releases annual study By Dolores Quintana The Lusk Center for Real Estate at...

West LA Development Would Bring 455 Units to Expo Bundy Area

December 17, 2021

December 17, 2021

Carmel Partners proposes large residential development By Dolores Quintana The Los Angeles Department of City Planning has received a proposal...

City Council Approves Shore Hotel Restaurant, Spa and Micro Hotel

December 13, 2021

December 13, 2021

Contentious five hours of debate results in 4-3 vote last week  By Dolores Quintana and Sam Catanzaro Santa Monica City...

Santa Monica City Council Denies Oceana Hotel Bid to Make Restaurant Public

December 10, 2021

December 10, 2021

Ocean Avenue hotel’s proposal defeated in deadlock vote By Dolores Quintana The Oceana Hotel’s second attempt to make their in-house...

Building Conversion in Today’s Market Environment

December 3, 2021

December 3, 2021

Adaptive reuse, repurposing, and up-cycling of industrial and commercial buildings (“Conversion”) for greater in-demand uses are rapidly becoming the direction...

Santa Monica Planning Commission Approves New Wellness Center

December 3, 2021

December 3, 2021

20th and Arizona project given green light  By Dolores Quintana The redevelopment of the administration wing of the former Gates,...

Developer Donates $1 Million to Support Housing Development at the West Los Angeles VA Campus

December 3, 2021

December 3, 2021

Pledge includes a $500,000 monetary donation and $500,000 in pro bono work By Staff Writer Hudson Pacific Properties, Inc. has...

State’s Housing Solution Starts Happening

December 3, 2021

December 3, 2021

By Tom Elias, Columnist It’s happening. Despite the best efforts of California’s highly ideological, developer-financed state legislators, the solution to...

Mixed-Use Development With Possible Bank Coming to Wilshire Boulevard

November 19, 2021

November 19, 2021

Wilshire and Harvard development to include 9 studio apartments By Dolores Quintana Two commercial buildings are being redeveloped into a...