Ventas has purchased the recently completed Genesis Office Complex for $1 billion. The project, which features two sleek glass towers, will add considerable depth to the companies growing portfolio of properties. Genesis wrapped up construction in 2019, yielding 721,000 square feet of office space for the South San Francisco market.
The North tower, tallest of the two, rises 21 floors high to produce 375,000 square feet of space. The South tower stands 12 floors. A four-story building with 72,000 square feet is also included in the complex.
Skidmore, Owings & Merrill are responsible for the building’s design. The program features a sculptural curtainwall glass exterior designed to emulate the speed of its neighboring Highway 101. Diagonal formations going up the entirety of the two towers’ height create a unique visual experience, further highlighting its unique aesthetic. The building won the 2016 Real Estate Deals of the Year Award.
Ventas is confident that their money will be returned over time through this investment. Their target tenants for the project are companies in the life science industry, an industry most dominant in Philadelphia and Boston that San Francisco hopes to grow into.
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