IQHQ’s Elco Yards District in Redwood City, California will house future research for one of the largest philanthropies supporting biomedical research and AI-driven science
IQHQ, Inc., a premier owner and developer of world-class life science districts, today announced that it has finalized a 225,000-square-foot lease with the Chan Zuckerberg Initiative (CZI) at IQHQ's Elco Yards district in Redwood City, California. The Chan Zuckerberg Initiative will fully occupy one of four buildings at Elco Yards as part of its future work in science.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250217902219/en/
Aerial view of The Shop at Elco Yards, looking south. (Graphic: Business Wire)
“We are thrilled to announce IQHQ’s new partnership with the Chan Zuckerberg Initiative at Elco Yards,” said Tracy Murphy, Co-CEO and Co-Founder of IQHQ. “With our state-of-the-art district in this vibrant life science market, IQHQ is uniquely positioned to support CZI’s critical, groundbreaking work that pushes the boundaries of scientific research and fosters the innovation of life-changing advancements in health and disease management.”
Elco Yards is a mixed-use development project that started construction in 2021. The innovative site features four dynamic buildings offering lab, office, and retail space that will deliver in phases between mid-2025 and 2026. The project is currently over 30% pre-leased, with CZI expected to take occupancy in 2027.
CZI has an established presence in Redwood City, where its headquarters and Community Space are already located. Elco Yards expands that footprint, further strengthening its commitment to the community. This new space allows CZI’s team of scientists and engineers to tackle big scientific challenges in service of its mission to cure, prevent, or manage all diseases by the end of the century.
"We are excited to continue to grow our roots in Redwood City with this new space for our biomedical research efforts,” said Marc Malandro, Chief Operating Officer of CZI and the CZ Biohub Network. "Redwood City is CZI’s long-standing home, and we’re proud to continue investing in this vibrant community while driving collaboration and innovation in the heart of the Bay Area.”
Founded by Dr. Priscilla Chan and Mark Zuckerberg in 2015, CZI helps solve some of society’s toughest challenges — from eradicating disease and improving education, to addressing the needs of our local communities.
As the Bay Area continues to lead global advancements in biotechnology and scientific research, demand is surging for IQHQ’s purpose-built campuses that prioritize amenities, accessibility, and sustainability. IQHQ continues to execute on key projects in 2025 and deliver on its mission of providing best-in-class ecosystems of innovation and supporting organizations like CZI that are driving meaningful change.
“Elco Yards is purpose-built to attract top talent and drive new critical discoveries by bringing together industry leaders, researchers, and innovators,” said Matthew Griffin, Senior Vice President, West Coast Leasing at IQHQ. “We are excited for our long-term partnership with CZI that solidifies Elco Yards as a leading innovation hub in Redwood City.”
About IQHQ
IQHQ is Giving Progress a Home™, empowering the life science community to thrive and succeed by creating and developing districts that inspire innovation and drive progress and growth. IQHQ’s focus is to acquire, develop, and operate sustainable life science districts in the U.S. innovation hubs of San Francisco, San Diego, and Boston. To learn more, visit iqhqreit.com or follow us on LinkedIn or Instagram.
About The Chan Zuckerberg Initiative
The Chan Zuckerberg Initiative was founded in 2015 to help solve some of society’s toughest challenges — from eradicating disease and improving education, to addressing the needs of our local communities. Our mission is to build a more inclusive, just, and healthy future for everyone. For more information, please visit chanzuckerberg.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250217902219/en/
Contacts
MEDIA:
iqhq@trailrunnerint.com
