BioMarin leases office space in forme...

BioMarin leases office space in former GreenPoint building

There are 6 comments on the Marin Independent Journal story from Aug 12, 2010, titled BioMarin leases office space in former GreenPoint building. In it, Marin Independent Journal reports that:

BioMarin Pharmaceutical Inc. has rented a 20,000-square-foot office space in the former GreenPoint Mortgage building in northern Novato, the company and a real estate broker said.

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Simple

Chicago, IL

#1 Aug 13, 2010
This is the first postive news I've heard in a long time. Don't get used to it.
Concerned

Walnut Creek, CA

#2 Aug 13, 2010
While it is great that BioMarin continues to grow my concern is why it was not able to find adequate space in Bel Marin Keys which is almost 50% vacant. While companies like Quadrant and Travelsmith have also left BMK for northern Novato while others have left Novato altogether BMK is not getting adequate attention from it's civic leaders. While a great deal of attention has been focused on the downtown area and the 'shock' of hearing about the departure of IMD and it's 450 employees from the Hamilton area BMK seems to get very little attention. Some of the larger buildings have been vacant for over 10 years! Why is that? For those small companies that provide services to the employees of these departing companies the options can be pretty limited. What can be done to get the attention of local business and community leaders to recognize the crisis in Bel Marin Keys.
Captain Gort

Berkeley, CA

#3 Aug 13, 2010
ha- I worked in BioMarin's Bel Marin Keys offices for about 2 decades. It was Digital Telephone Systems originally...I saw the whole place get built from a grassy field.
There was nothing east of the place. Then DTS became Harris....what a lot of drama played out there. It spawned other startups that made (and lost) billions of dollars...and a lot of neo-millionaires. I'm not one of them, unfortunately!
Then the whole thing -and most of the startups and many of the neo-millionaires -went bust. Quite a tale. What a ride.
Cap Rate

United States

#4 Aug 13, 2010
Concerned wrote:
While it is great that BioMarin continues to grow my concern is why it was not able to find adequate space in Bel Marin Keys which is almost 50% vacant. While companies like Quadrant and Travelsmith have also left BMK for northern Novato while others have left Novato altogether BMK is not getting adequate attention from it's civic leaders. While a great deal of attention has been focused on the downtown area and the 'shock' of hearing about the departure of IMD and it's 450 employees from the Hamilton area BMK seems to get very little attention. Some of the larger buildings have been vacant for over 10 years! Why is that? For those small companies that provide services to the employees of these departing companies the options can be pretty limited. What can be done to get the attention of local business and community leaders to recognize the crisis in Bel Marin Keys.
Respectfully, what can civic leaders do to improve BMK? To be honest, I don't want the Novato City Council throwing money at BMK the same way it does Grant Avenue. In my opinion the Novato tax payer has not seen much benefit from the money expended on supporting businesses in the downtown.
BMK was never developed to host businesses like BioMarin. Most of the buildings are concrete tilt-up warehouses that are extremely expensive to convert to Class A office space. Thus part of the reason why BioMarin is looking elsewhere for office space as eluded to in the article.
BMK will only improve when property owners decide to invest in their buildings.

Since: Dec 09

Santa Cruz, CA

#5 Aug 13, 2010
Cap Rate wrote:
<quoted text>
Most of the buildings are concrete tilt-up warehouses that are extremely expensive to convert to Class A office space. Thus part of the reason why BioMarin is looking elsewhere for office space as eluded to in the article.
BMK will only improve when property owners decide to invest in their buildings.
That's the bottom line to that discussion. There is a surplus of Class A office space around, so places like BMK that don't have these type of facilities will suffer for it to organizations looking.
Concerned

Petaluma, CA

#6 Aug 15, 2010
Cap Rate wrote:
<quoted text>
Respectfully, what can civic leaders do to improve BMK? To be honest, I don't want the Novato City Council throwing money at BMK the same way it does Grant Avenue. In my opinion the Novato tax payer has not seen much benefit from the money expended on supporting businesses in the downtown.
BMK was never developed to host businesses like BioMarin. Most of the buildings are concrete tilt-up warehouses that are extremely expensive to convert to Class A office space. Thus part of the reason why BioMarin is looking elsewhere for office space as eluded to in the article.
BMK will only improve when property owners decide to invest in their buildings.
While there may be an over-abundance of Class-A space in BMK the reason these companies have left the park and looked elsewhere is due to the poor conditions of their former buildings. Getting minor upgrades or repairs made became so burdensome that looking elsewhere became the only alternative. Our civic leaders don't need to put taxpayers on the hook for attracting companies back to BMK but rather encourage the larger landlords to better maintain their facilities. Keep in mind there are units that have been vacant over 10 years. I find it unbelievable that there have not been qualified candidates to fill some of these spaces including BioMarin. All the while, the smaller landlords are being pressured to negotiate lower rents to retain tenants. The small businesses that are used to serving the employees of these companies are being driven out of business due to these extended vacancies. This issue is compounding the pressures of an already weak economy. What is good for BMK is good for the city of Novato.

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