3850 SE Three Mile
US - McMinnville, OR
MYR 23,055,000 | 2,309 m²
Jones Lang LaSalle Americas, Inc. (“JLL”) has been engaged, as exclusive marketing advisor, to extend to qualified investors the opportunity to acquire the leasehold interest in Penumbra Labs (the “Property” or the “Campus”). The Class A life sciences campus is 100% leased to Penumbra at 50% below market rents for ~14 years. Penumbra recently re-committed to a 15-year blend and extend lease, solidifying this location as its corporate headquarters which features 9 total buildings. The subject Property features four of the nine Penumbra buildings in Alameda.
Situated in Harbor Bay Business Park of Alameda, a leading Bay Area cluster of life sciences and research and development users, the Property serves as a mission critical research and development and manufacturing facility for Penumbra, and features institutional-quality improvements, large floor plates, and ample parking. Penumbra (NYSE: PEN) is a publicly traded global healthcare technology company that designs, develops and markets innovative medical devices.
Penumbra Labs presents a stable cash-flow investment opportunity with long-term credit quality tenancy in Penumbra, well below market rents, and a mission critical headquarter campus located in an established life sciences cluster.