Bio-Rad Laboratories, setting the stage for a big expansion in the East Bay, has bought a two-building complex in Pleasanton’s Hacienda Business Park to accommodate plans for more workers.
Hercules-based Bio-Rad on Nov. 28 paid $24.2 million for two buildings that make up the Gibraltar Center office complex in Pleasanton, Alameda County public records show.
Together, the Pleasanton buildings that Bio-Rad recently purchased total 101,000 square feet, said Jim Ellis, a principal executive with Ellis Partners, a real estate developer that heads up a partnership that sold the buildings to Bio-Rad.
“We recently purchased two buildings in Pleasanton to house operations of our Digital Biology program at Bio-Rad,” said Tina Cuccia, a spokeswoman for Bio-Rad.
One building, totaling 60,000 square feet, is at 5667 Gibraltar Drive and is empty. The other building, which is already occupied by Bio-Rad, is 41,000 square feet in size and is located at 5731 West Las Positas Blvd.
“This deal is a win-win for both Bio-Rad and us,” Ellis said. “Bio-Rad has room to expand and we were able to execute the sale of a good office property.”
Bio-Rad launched its Digital Biology Center in 2012, according to information on the Bio-Rad website. Bio-Rad makes an array of products used in clinical, laboratory and medical testing of blood, tissue and fluid.
“New strategies for diagnosis of inherited disorders, cancer, and infectious disease” are among the technology breakthroughs that Bio-Rad anticipates from its Digital Biology group that’s expanding in Pleasanton.
Potentially, 500 people could work in the office complex once Bio-Rad fully occupies both buildings. The larger two-story building, which now is empty, could accommodate about 300 employees and the smaller one-story building could contain 200 employees.
“We have occupied one of the buildings for several years and we are looking forward to utilizing the additional building,” Cuccia said.
Bio-Rad is one of the Bay Area’s large publicly held companies, measured by revenue. Over the 12 months that ended in September, Bio-Rad earned $1.28 billion on revenue of $2.29 billion, according to the Yahoo Finance site.
Bio-Rad didn’t provide a time frame to move into the vacant building.
The tech company said this part of the East Bay is fertile ground for advanced technology firms.
“We believe this northeast extension of Silicon Valley is a rapidly growing commercial area for technology companies and feel Bio-Rad benefits from having a presence here,” Cuccia said.
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