Joinn Laboratories, China’s first GLP laboratory enterprise headquartered in Beijing, was seeking a state-of-the-art science and innovation campus for its U.S. market expansion. The specific requirements included the need for sophisticated facilities with laboratory, cGMP and vivarium improvements.
Kidder Mathews China Services assembled a team of professionals, very proficient in Bay Area life science real estate, and developed a solution based on the client’s requirements shortly upon receiving the request. The opportunity at the Bayer Campus at 2600 Hilltop Drive offered 53 acres and 355,000 sf of laboratory and office space in 6 buildings, meeting all of Joinn’s requirements. The campus was also entitled to a total of 1,000,000 sf of land for future development. Bayer HealthCare had already received several other offers, so Kidder Mathews helped Joinn navigate a highly competitive situation by recommending a clear-cut closing process which enabled them to close quicker than other bidders.
The entire process was complex and challenging because both entities are large publicly traded multinational corporations with headquarters in China and Germany, and because both had to strictly comply with their internal rules and regulations at each step of the process. In addition, the client had not previously conducted such a sophisticated real estate transaction in the U.S., so the decision makers had to conform to the local business environment and the recommended methods to closing a transaction. The outcome was successful and the client was very pleased.