December 3, 2021 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

100,000 Square Foot Biotech Lab and Offices Planned for Pico Boulevard

Pico and Sepulveda development proposed

By Dolors Quintana

A 100,000 square foot biotech lab space with offices is planned for Pico Boulevard in West Los Angeles. 

Life Science developer HATCHspaces and health care systems developer NexCore Group have joined forces on a proposed development at Pico and Sepulveda as reported by Urbanize Los Angeles. The project would be the redevelopment of a strip mall located near the Expo Line’s Pico and Sepulveda station. 

This would be their third collaboration on such a building project and the building would be five stories tall with 100,000 square feet of office space that would be wet lab capable, which is in short supply in Los Angeles. Most of the burgeoning office space market in Los Angeles is being snatched up by entertainment and technology firms, but this development is aimed squarely at an entirely different market. 

“The greater Los Angeles market has matured to the point where large blocks of technically specific space is an immediate need,” HATCHspaces co-founder Allan Glass in a statement “Most of our wet lab portfolio is at full capacity, and there are several large block tenants actively in the market. We’ve had multiple major pharmaceutical and biotech companies reach out to us hoping to expand into LA from top clusters like San Francisco, San Diego, and Boston in order to tap into the deep and diverse pool of experienced talent already in the region.”

HATCHspaces records show that the vacancy rate for life science and biotech companies in the Los Angeles area is 1.5%. There have been recent attempts to welcome this industry in the area of Culver City at BioScience LA and in the Harbor Cities at Biotech Park, but HATCHspaces and NexCore Group see another opportunity to increase the space near the Expo Line especially since the City has encouraged mixed industry and residential use of land along the Expo corridor as reported by Urbanize Los Angeles and cited by HATCHspaces and NexCore as their motivation. 

Related Posts

Bonin, Kuehl Share Details on West LA Civic Center Redevelopment

November 19, 2021

November 19, 2021

West LA Commons to include over 900 units of housing alongside retail and municipal office building By Dolores Quintana A...

Culver City’s Wende Museum Looking to Expand to Include Housing for Homeless Artists

November 19, 2021

November 19, 2021

Community center, garden and more also planned By Sam Catanzaro Culver City’s Wende Museum is proposing a major expansion that...

Construction on Hong Kong Developer’s 139 Unit Motor Avenue Development Underway

November 19, 2021

November 19, 2021

U shaped structure takes shape across the street from Sony Studios By Dolores Quintana Construction has begun on a 139-unit...

Opinion: SB 9, 10: The Rebellion Begins

November 19, 2021

November 19, 2021

By Tom Elias, Columnist It was inevitable from the moment Gov. Gavin Newsom in mid-September signed this year’s two most...

280,000 Square Feet of Office Space Nears Completion in Culver City

November 19, 2021

November 19, 2021

Mixed-use development with offices and retail almost done By Dolores Quintana An 11-story, 280,000 square foot office building in Culver...

12-Story Wilshire Boulevard Senior Center Survives Appeal

November 12, 2021

November 12, 2021

Belmont Village would bring over 50 units of senior housing to Wilshire Boulevard By Sam Catanzaro City officials recently rejected...

Sacto Dems Dump Prop. 13 Reforms

November 5, 2021

November 5, 2021

By Tom Elias, Columnist For more than 40 years, Democrats in Sacramento have talked fervently about reforming the 1978 Proposition...

150,000 Square-Foot Office Planned for Downtown Culver City

November 5, 2021

November 5, 2021

Watseka Avenue development slated for completion in 2024 By Dolores Quintana Another office building development is shaping up in Downtown...

Bel Air Mega-Mansion The One Focus of Legal Battle

November 5, 2021

November 5, 2021

The One pulled from Los Angeles Superior Court  foreclosure sale By Dolores Quintana An infamous mega mansion in Bel Air...

Office Campus Underway Next to Helms Bakery

October 23, 2021

October 23, 2021

Westside Real Estate Scene October 25, 2021 By Dolores Quintana According to Urbanize, a former set of industrial buildings across...

Metro Considering Joint Development of Transit Land To Build Affordable Housing

October 22, 2021

October 22, 2021

Agency looking into goal of building 10,000 units of affordable housing By Dolores Quintana LA Metro has received a report...

Los Angeles Leads the Nation in Adaptive Reuse for 2022

October 18, 2021

October 18, 2021

Quarter of conversion projects in pipeline located in former offices By Dolores Quintana Adaptive reuse of already existing buildings is...

Sony Studios Repurposing Culver City Scenic Arts Building

October 18, 2021

October 18, 2021

Westside Real Estate Scene October 18, 2021 By Dolores Quintana Sony Studios will be repurposing the Scenic Arts Building, which...

Redcar Properties Building New Offices in Culver City’s Hayden Tract

October 8, 2021

October 8, 2021

Westside Real Estate Scene October 11, 2021 By Dolores Quintana Redcar Properties will be building new offices in the Hayden...