According to the San Francisco Business Times, the Richmond Field Station is now considered the front-runner in the competition to host the expansion of Lawrence Berkeley National Labs.

“The proposed LBNL’s second campus would combine their Energy and Life Sciences research cluster with the existing UC Berkeley Engineering research cluster on university-owned properties in Richmond’s southern waterfront area. The first phase of the second campus would include up to 500,000 square feet of research space for LBNL and through later phases grow up to two million square feet. The proposed complex is expected to accelerate innovation, technology transfer and commercialization in the region, while creating new jobs. LBNL’s selection committee will make final decisions in early winter.”

As many of the investors I’ve worked with know, we’re seeing some very interesting opportunities in the Marina Bay area.  These distressed properties, which are already producing cash flow in the current rental environment, are poised for even more rewards should LBNL locate it’s second campus next door.  The campus would be a very short commute by foot or bike from Marina Bay (pictured in the illustration above on the upper right).  In addition, one of LBNL’s conditions for development is proximity for public transport, so expect to see an increase in service to the area as well.

The City of Richmond is in full support of the project, again from the Business Times:

Richmond businesses leaders and officials have launched campaigns including “Richmond on the Rise” and “I [heart] LBNL” to show support for the second campus proposal.

“The location is close to UC Berkeley’s main campus and ample enough to allow for future growth,” said Catherine Koshland, UC Berkeley’s vice provost for teaching, learning, academic planning and facilities who heads the steering committee for the development project. “We would like to extend the kind of vibrant partnership that already exists between the campus and the lab to the city of Richmond, acting as a catalyst for green and cleantech development.” San Francisco Business Times – by Blanca Torres Wednesday, July 13, 201

The final decision is expected in November.  If you’d like to discuss opportunities for investment in the area, I’d advise you to contact me soon as we’re already seeing transaction activity increase.