Ultragenyx Expects 20 percent Revenue Growth in 2024 and Profitability in 2026

Posted on LinkedIn by CNBC Overtime, “The rare disease biotech company Ultragenyx says it expects 20 percent revenue growth in 2024 and profitability in 2026.

Ultragenyx founder and CEO Dr. Emil Kakkis joined us from the JPMorgan Chase & Co. Health Care conference to discuss the regulatory and approval challenges in developing and bringing a blockbuster drug for rare diseases to market, new therapies coming down the pipeline, and what the biotech company is doing to accelerate ‘good science into great medicine.'”

https://www.linkedin.com/posts/cnbc-overtime_the-rare-disease-biotech-company-ultragenyx-ugcPost-7151222163943907328-8-FR/?utm_source=share&utm_medium=member_android

Basin Street Properties Celebrates Over 700,000 Square Feet of Office Leasing in 2023

Basin Street Properties, a prominent norther California and northern Nevada real estate investment, development, and management firm is pleased to announce a successful 2023 for office leasing.  Across its three markets (Reno, Sacramento, and North Bay) Basin Street completed 76 new leases totaling 294,408 square feet and 124 renewals totaling 444,150 square feet.   Basin Street maintained 89% occupancy across its portfolio.

“The leasing activity by new and existing tenants indicates their attitudes towards the economy and their office needs,” said Scott Stanzl, Chief Portfolio Office at Basin Street Properties. “Businesses continue to see the benefits of a Class A office for productive teams and attracting and retaining clients.”

In the North Bay, Basin Street signed 35 new leases for 129,622 square feet and 76 renewals for 244,828 square feet in 2023. We signed new leases with Santa Rosa School District, Muir Wood and Bay Alarm taking 28,067 square feet. Basin Street also renewed CamelBak, Abbey, Weitzenberg, Warren & Emery and National Instruments for a total of 58,558 square feet.

“We succeeded in attracting tenants moving to quality as they evolve with hybrid work arrangements and right size to smaller spaces,” said Stranzl. “Businesses desire quality space and amenities like fitness centers, conference rooms, concierge service and cafes to optimize the office experience and draw team members back to the office.”

In Sacramento, Basin Street signed 29 new leases totaling 114,045 square feet and 31 renewals for 123,372 square feet. New leases with Pacific Charter Institute, Samsung Electronics and Gannett Fleming totaled 30,646 square feet. We also renewed Ameriprise Financial, TY Lin and Blackrock for a total of 23,640 square feet.

In Reno, Basin Street executed 12 new leases for 50,742 square feet and 17 renewals for 75,950 square feet. New leases with NCE Engineering, DL Freight Solutions and City of Reno totaled 23,701 square feet. Basin Street renewed and expanded Kaempfer Crowell from 7,340 square feet to 16,319 square feet and renewed Clear Capital and Northern Nevada Bath for a total of 35,097 square feet.

Basin Street expects this momentum to continue in 2024.  Interest rate hikes have plateaued, and we anticipate achieving the soft landing we hoped for with the economy.  We have positioned our properties to attract rightsizing new tenants and our team works hard to maintain high satisfaction with our existing tenants.

We are grateful for our hardworking brokers, property managers, engineers and many other team members and vendors across our markets keeping our properties looking great and helping our tenants succeed.

 

ABOUT BASIN STREET PROPERTIES:

Basin Street Properties, established in Petaluma in 1974, is one of Northern California’s and Northern Nevada’s most prominent developers, investors and managers of commercial properties. The company owns and manages over 5 million square feet of Class A office space. Basin Street is widely recognized for its office, retail, hospitality, multi-family and mixed-use developments. The company offers a broad range of real estate services, including development, leasing, property management, construction management, financial and asset management, and property acquisition and disposition. For more information, visit basin-street.com.

Media Contact:

Mike Williams
mwilliams@basin-street.com
530.448.1986

 

Sonoma State to Host Oxford Consortium Workshop

Sonoma State University will host The Oxford Consortium for Human Rights (OCHR) Workshop Series:  Human Rights, Activism, and Community Action from January 11 to 15.

The Consortium currently hosts annual spring and summer workshops for students and faculty in Oxford in collaboration with the Oxford Institute for Ethics, Law and Armed Conflict (ELAC).

With a goal of engaging students and faculty in conversations and skill-building around the theory and practice of community action, the workshop at Sonoma State will kick off the 2024 workshop series.

“We are delighted to once again be partnering with Sonoma State University to host this workshop,” said Professor Sujata Gadkar-Wilcox, OCHR Executive Board Member. The long tradition of civil rights activism in the region’s farmworker community was among the reasons they chose this site, noted Gazkar-Wilxoc, who is Chair of Law and Justice at Quinnipiac University,

“The impact of these workshops for students cannot be overstated,” said Troi Carleton, Dean of SSU’s School of Social Sciences, noting the response of students who participated in 2022.

“Students told us they came in thinking they didn’t belong, and they left knowing they did,” she said. “We are honored and grateful to be in partnership with OCHR and in the work they’re doing to elevate human rights in the world – starting with young people in these workshops.”

Organizers expect about 50 student and faculty participants sponsored to attend by their institutions. Sponsors include Cal State Pomona, Cal State LA, the University of Texas, the University of Oregon, Quinnipiac University, and Northwestern Community College, among others.

Some of the questions that will be considered as participants hear from scholars, engage in discussions and work groups, and learn from local activists:

  • How do we mobilize responses to build compassionate and just communities?
  • How do we integrate the personal and the political?
  • What is the role of international human rights principles on the scale of a small local community?

https://news.sonoma.edu/article/sonoma-state-host-oxford-consortium-workshop

Sutter Health Eyes Huge Santa Clara Lease in Boost for Office Market

Sutter Health has struck a deal to lease a huge amount of office space at a high-profile Santa Clara campus in a deal that bolsters the Bay Area’s wobbly commercial property sector.

The health services titan has agreed to lease three buildings in Mission Technology Park, a four-building office complex in Santa Clara that is owned by Sobrato Investments, a legendary Bay Area real estate firm.

Sutter Health is renting well over 300,000 square feet in the office buildings, according to several commercial property experts familiar with the transaction.

The buildings that Sutter Health has agreed to lease are all located on Mission College Boulevard next to California’s Great America amusement park in Santa Clara.

The three office buildings that Sutter Health is leasing total a combined 324,900 square feet, according to regulatory filings and commercial property databases.

The addresses of the buildings that Sutter Health is leasing are 2431, 2441 and 2451 Mission College Boulevard, real estate sources say.

 

Sutter Health intends to use the three buildings as medical office sites, according to the commercial property experts familiar with the leasing deal.

It wasn’t immediately clear when Sutter Health would be moving into the buildings. Financial terms of the lease weren’t disclosed.

What is certain is that the Sutter Health rental agreement in Santa Clara is one of the Bay Area’s largest office leases so far in 2023. Colliers, a commercial real estate firm, helped to arrange the lease, according to sources.

The 2451 Mission College building totals 136,700 square feet, the 2441 Mission College office is 103,500 square feet in size, and the 2431 Mission College office site is approximately 84,700 square feet.

Sobrato Investments, one of the Bay Area’s most savvy and successful real estate firms, had previously launched a wide-ranging renovation and upgrade of the four-building campus in recent years.

The renovation produced a dramatic modernization that greatly increased the appeal of the office complex.

The upgrade appears to be a big-time success since the four buildings have all landed tenants.

In 2022, Nvidia leased an office building totaling 102,900 square feet at 2421 Mission College Boulevard, according to a Colliers quarterly report.

The Sutter Health rental deal is a reminder of the fast-shifting office market in the Bay Area.

The coronavirus in 2020 prompted state and local government agencies to impose draconian business shutdowns to help curb the spread of the deadly bug.

The lockdowns chased countless office employees away from their workplaces. Even after the restrictions were eased, the return to the office has been uneven because many people are still choosing to work from home or remotely.

At the same time, tech companies slashed their respective appetites for office space, trimmed their property footprints and embarked on layoffs.

As a result, the medical, life sciences and healthcare industries are among the few sectors that continue to seek out office space consistently.

Sutter Health’s leasing agreement fits that trend.

What’s more, the deal by Sutter Health offers a hopeful counterpoint to the rising vacancy rates, loan defaults and empty buildings that now haunt the Bay Area office market.

Burbank Housing Picked as Partner For Marin Housing Authority’s Golden Gate Village Rehabilitation

The county has reached a milestone in efforts to revitalize the Golden Gate Village public housing complex in Marin City, but a new problem has emerged.

The Marin Housing Authority approved Burbank Housing on Tuesday as the development partner for the project. The authority will now begin contract negotiations with Burbank, a nonprofit affordable housing developer in Santa Rosa.

“This is really a wonderful place to be at this moment,” said Marin County Supervisor Katie Rice, a member of the housing authority’s board.

However, the redevelopment framework the authority approved last month would cause a large number of Golden Gate Village residents to be classified as “overhoused” — a term for households with more space than needed for the number of residents in them. Residents who are overhoused must move to apartments with fewer bedrooms.

“We know we need to address the right-size housing situation at Golden Gate Village,” said Kimberly Carroll, the director of the housing authority. “However, no one will need to permanently move out of Golden Gate Village as it relates to any of the overhousing situations.”

Concerns about displacement among members of Golden Gate Village’s resident council helped torpedo a previous development plan that called for construction of additional affordable and market-rate housing at the complex. No new housing is planned now.

Under the redevelopment framework, the authority will use Section 18 of the U.S. Housing Act of 1937, which allows for the conversion of public housing to project-based Section 8 voucher assistance. Section 18 also permits housing authorities to partner with private investors to finance debt and access other funds to rehabilitate public housing.

Mike Andrews, a consultant hired by the U.S. Department of Housing and Urban Development to advise the Marin Housing Authority, explained the arrangement at an earlier housing authority meeting.

“Golden Gate Village would be sold to a newly created limited partnership,” Andrews said. “The housing authority would be the managing general partner of that partnership. The investor limited partner would bring equity and expect their tax stream of benefits in return.”

“The housing authority would maintain ownership of the land; they would lease the land to the limited partnership,” he said. “The limited partnership would own the buildings sitting on the housing authority’s land. By doing that, the housing authority is able to attract low-income housing tax equity.”

It is the conversion from public housing to project-based Section 8 vouchers that creates the new overhousing issue.

“The occupancy standards for public housing and the housing choice voucher program are different,” Andrews said on Tuesday.

As a result, many Golden Gate Village residents who live in three- and four-bedroom apartments would be newly classified, through no fault of their own, as being overhoused when the switch to the voucher system occurs. Carroll estimates as many as 70 households could be affected.

“I am working with HUD trying to find a solution,” she said.

This isn’t Golden Village’s only overhousing problem.

In 2021, HUD notified the Marin authority that 72 households at the complex were overhoused. Many of those households involved seniors whose bedroom needs declined as their children grew and moved out.

HUD cautioned that if the overhousing wasn’t addressed it might reduce the Marin Housing Authority’s funding for operations as well as funding for Section 8 housing voucher payments. HUD said it wanted the issue resolved before renovation at Golden Gate Village took place.

Carroll said the number of overhoused households has been as high as 87 but has fallen to between 27 and 30. She said the problem is that there just aren’t enough one- and two-bedroom apartment at Golden Gate Village to move the overhoused residents into.

Carroll said she has received permission from HUD to allow residents who are overhoused to remain in their dwellings until an appropriately-sized apartment becomes available, although she said that could take years.

Residents will have to temporarily move out of their apartments while they are being renovated, but Carroll said when the work is completed, they will be allowed to return to their apartments even if they are considered to be overhoused.

“So the good thing,” Carroll said, “is nobody’s going to be asked to leave permanently.”

Eventually, however, unless Carroll can get HUD to agree to a compromise, residents who are classified as overhoused will have to move to smaller apartments.

Sonoma Raceway on Track for Overhaul

Cherishing a bright orange 1965 Mustang GT and a constant love of fast cars, Bay Cities Paving & Grading Vice President of Estimating, Robert Rosas, is gearing up for his dream job.

He’s preparing to reconstruct and repave Sonoma Raceway.

The track, like the 10 other Speedway Motor Sports facilities across the nation, begins to wear out after about two decades. It was last resurfaced in 2001, so “it was time,” according to Steve Swift, senior vice president of operations and development, Speedway Motorsports.

When the Concord excavation company finishes replacing about 10,000 tons of a paving material mix by February, the raceway will host a ceremony to commemorate the smooth-as-skin, $1 million-plus surface.

“I’m super excited to be a part of this. When we announced that we got the job, everybody’s eyes lit up,” Rosas said of his 75 fellow employees. “They all said, ‘Robert’s in heaven.’”

As a boy, the walls of his room were littered with posters of Lamborghinis, Ferraris and Porsches.

“Then, I bought a Porsche 911, during a midlife crisis,” he joked about his continuous passion entering adulthood.

The ads will say: “love is a Subaru.” But to true racing enthusiasts, it’s just about anything that competitively peels rubber around the standard 2.5-mile racecourse.

Rosas and company are creating a special mix of asphalt and a rubberized polymer material, which essentially consists of plastics that will withstand the raceway rigors of heavy traffic and high temperatures.

The mix is expected to be delivered by Jan. 5.

“When we show up, it will be like the Army,” he said.

The Raceway’s final event, Winter Jam, is scheduled for Dec. 16 and 17. Then, the “milling” — which involves grinding up the old track — begins. When the job is done — including the track, pit area and runoff zone — the track will be ready for the renowned Toyota / Save Mart 350 NASCAR race weekend scheduled for June 7-9.

“Our racing surface is in use more than 300 days per year,” said Brian Flynn, Sonoma Raceway’s executive vice president and general manager.

Sonoma Raceway’s 12-turn road course and quarter-mile drag strip located at Sears Point was built in 1968. It completed the upgrade to its hospitality center overlooking Turn 11 in June of 2022.

https://www.sonomanews.com/article/north-bay/sonoma-raceway-on-track-for-overhaul/

The Buck Institute’s Eric Verdin Included Among Over 30 UCSF Scientists Honored for Highest Impact in Their Fields

Thirty-two UC San Francisco scientists are among the most influential individuals in their respective fields, according to the most recent analysis of research citations by the science and intellectual property company, Clarivate.

Researchers were chosen according to authorship of highly-cited journal articles – those that ranked in the top 1% by citations for their field(s) and publication year over the past decade. This citation-based list was then refined by expert judgment at Clarivate to produce a final slate representing the top 0.1% of all scientists.

“We celebrate the Highly Cited Researchers whose contributions transform our world by helping to make it healthier, more sustainable and more secure,” said Bar Veinstein, president of Academia and Government at Clarivate. “Recognition of Highly Cited Researchers not only validates research excellence but also enhances reputation, fosters collaboration and informs resource allocation, acting as a beacon for academic institutions and commercial organizations.”

Highly-cited researchers have made breakthroughs pushing their fields to new heights and inspiring new science around the globe. UCSF scholars are among the most highly cited researchers in biology and biochemistry, clinical medicine, immunology, molecular biology, biochemistry, neuroscience and behavior, and pharmacology and toxicology.

The 2023 rankings include 52 organizations — universities, government agencies and other entities — that are home to 27 or more Highly Cited Researchers. UCSF ranked 11th among all organizations.

The Highly Cited list includes 6,849 individuals from 67 countries/regions. About 84% come from just 10 countries/regions, including 38% from the U.S. and 18% from mainland China.

https://www.ucsf.edu/news/2023/12/426756/over-30-ucsf-scientists-honored-highest-impact-their-fields

Sonoma State University President Mike Lee is at the White House for a California Stakeholder Meeting with Vice President Kamala Harris

In a LinkedIn post, “Our President in the President’s House: SSU President Mike Lee is at the White House today for a California Stakeholder Meeting with Vice President Kamala Harris. He also will attend a holiday reception this evening at the vice president’s residence.”

https://www.linkedin.com/posts/sonoma-state-university_our-president-in-the-presidents-house-ssu-activity-7138963216168009728-dspl/?utm_source=share&utm_medium=member_android

The Buck Institute for Research on Aging Hosting the 1st International Roundtable of Longevity Clinics

In a LinkedIn post, ” The 1st International Roundtable of Longevity Clinics Begins Tomorrow.
It marks a groundbreaking moment in the field of longevity medicine as we kick it off at the Buck Institute for Research on Aging on Demeter 8th.

This event is not just a conference; it’s a convergence of the world’s leading minds in longevity medicine. We’re thrilled to welcome eminent speakers like:
→ Kenneth H. Cooper, MD, MPH – Founder and Chairman of Cooper Aerobics
→ Dean Ornish, M.D. – Founder & CEO of Ornish Lifestyle Medicine
→ Mark Hyman, MD – Founder & Senior Advisor: Cleveland Clinic Center for Functional Medicine, Author of “Young Forever”
→ David A. Sinclair A.O., Ph.D. – Professor of Genetics, Harvard Medical School
→ Dr. Mike Roizen – Chief Wellness Officer emeritus, Cleveland Clinic, Staff Physician Executive Health Professor, Cleveland Clinic Lerner College of Medicine at Case Western Reserve University
→ David Karow, MD, PhD – President and Chief Innovation Officer, Human Longevity, Inc.
→ Eric Verdin, M.D., Ph.D. – CEO, Buck Institute for Research on Aging
→ Joanna Bensz – Founder and CEO, Longevity Center, International Institute of Longevity
→ Prof. Andrea B. Maier, MD – CHI Longevity, Healthy Longevity Medicine Society
→ Prof. Evelyne Yehudit Bischof, MD, PhD, MPH – Longevity Concierge Clinician, Healthy Longevity Medicine Society
and many more.

What to Expect:
– Unparalleled networking with top clinics, suppliers, and experts.
– Rich discussions on global trends, scientific advancements, and practical applications in longevity.
– A collaborative effort to establish gold standards for longevity testing and interventions.

This Roundtable is designed for leaders, practitioners, and innovators in the longevity field. It’s a unique opportunity to shape the future of longevity medicine together.

Stay Connected: Follow the event highlights and join the conversation using #LongevityRoundtable2023.

Here’s to advancing healthspan and shaping a future where longevity goes hand-in-hand with quality of life!
Let’s make this event a milestone in longevity history.”

https://www.linkedin.com/posts/buck-institute-for-research-on-aging_longevityroundtable2023-longevitymedicine-activity-7138968613285232642-WSfc/?utm_source=share&utm_medium=member_android

North Bay Business Journal Celebrates the Release of the 2024 Book of Lists

The North Bay Business Journal is thrilled to celebrate the release of the 2024 Book of Lists, a resource compiled over the year containing key information about local companies, organizations, and business sectors. Kick off the year by connecting with hundreds of top-level North Bay businesses, and developing your professional contacts while celebrating another year of the Book of Lists.

Join us at the North Bay’s premiere networking event of the year to get a hold of your printed copy, which you can reserve today.

SOMO Village Art Gallery

1400 Valley House Drive, Rohnert Park

February 20, 2024

5-7 pm

https://mynorthbaytickets.com/events/book-of-lists-event-2-20-2024