JLL completes $8.5M sale of industrial biomanufacturing facility in Pleasanton, CA

SAN FRANCISCO, Oct. 29, 2025 –  JLL Capital Markets announced today the $8.5 million sale of Tri-Valley GMP, a 42,620-square-foot industrial biomanufacturing facility located at 4696 Willow Rd. in Pleasanton, California.

JLL represented the seller in the sale to Cannae Partners and REALM.

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.

The JLL Investment Sales and Advisory team was led by Senior Director Erik Hanson.

"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."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Cannae Partners was formed by Bay Area natives, Bob Basso and Jamin Seid to pursue local, value-add real estate opportunities. Bob and Jamin met as classmates at the Haas School of Business and later reconnected in San Diego while working at an opportunistic real estate fund, sourcing investments across the U.S.  The unfolding financial crisis created the perfect moment for the two of them to recommit to their Bay Area roots and embrace their entrepreneurial spirit.  In 2010, Jamin and Bob founded Cannae Partners and together with a large financial services company acquired their first asset in San Jose.

REALM is an exclusive investment collective consisting of 100+ ultra-high-net-worth individuals, family offices, and foundations dedicated to direct real estate investing.  An invite-only platform, REALM leverages the substantial relationships, experience, and capital of its members to access, assess, and execute exceptional real estate investments that offer superior risk-adjusted returns.

With over $6 billion of real estate transaction experience, REALM's principals have a proven track record of investing successfully across a variety of property types, geographies and investment cycles. REALM invests, both directly and alongside operating partners, in all types of commercial and residential real estate located in dynamic submarkets throughout the U.S. https://www.realmlp.com/