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11/03/25
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Cannae Partners and REALM purchased Tri-Valley GMP, a 42.6k sf industrial biomanufacturing facility in Pleasanton, for $8.5 mil ($200/sf). The asset is located at 4696 Willow Rd, south of I-580 and east of I-680.
The best-in-class cGMP facility previously served as Gritstone bio's Tri-Valley hub until their February 2025 vacancy. The property benefits from significant improvements totaling over $325 per square foot invested into the current build-out, transforming it into a state-of-the-art laboratory and manufacturing complex featuring 12 production rooms, ISO 5+ cleanroom space and comprehensive quality assurance and quality control laboratories.
Strategically positioned in Pleasanton within the Tri-Valley and 680 Corridor, the facility offers unparalleled access to nearby amenities and transportation nodes, including Bay Area Rapid Transit stations and Interstates 680 and 580. Pleasanton boasts the strongest research and development and lab tenant demand in the Tri-Valley, with nearly 300,000 square feet of flex and lab space absorbed over the last 24 months.
The location provides access to a highly talented labor pool, with Stanford University, University of California San Francisco, University of California Berkeley and University of California Davis all within a 50-mile radius.
Erik Hanson with JLL represented the seller in the transaction.
"This sale offered the rare opportunity to acquire a market-leading built out biomanufacturing cGMP asset in the Bay Area and capture the increasing demand from R&D and life sciences tenants looking to expand their operational footprint in this centrally located market," said Hanson. "The property's exceptional build-out quality, combined with Pleasanton's strategic location within the thriving Tri-Valley corridor, attracted multiple competitive offers from sophisticated operators seeking exposure to this dynamic submarket."
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