NASA Reseach Park Development Advisory Services
Mountain View, California
NASA Ames is a world-class research facility working in nanotechnology, bio-informatics, information technology, and advanced life sciences. This former military facility, now called NASA Research Park (NRP), is located in the heart of Silicon Valley and serves as a key engine for technology research and development in the region and the world.
Since 1997, BAE has served as Real Estate and Economic Development Advisor to the NASA Research Park. BAE’s work has included initial development concept planning; business planning and financial feasibility testing; establishing real estate leasing protocols and management systems; preparing market surveys of office and apartment rents, land sales, and comparable development projects; and space lease and ground lease negotiation support.
To date BAE has supported over 70 lease transactions for over one million square feet, including a $5.6 million building rehabilitation for Carnegie Mellon University’s Carnegie West campus, a $142 million ground lease of 42-acres to Google for a new office complex, and a 77-acre ground lease to the University of California Santa Cruz for a mixed-use campus. In total, BAE’s work has increased NASA’s real estate income from $330,000 in 2003 to over $14 million per year. BAE is currently assisting in the ongoing leasing of existing structures to technology firms, including start-up ventures. BAE also recently represented NASA in its negotiations for a long-term ground lease of Moffett Airfield to Google Inc., including reskinning and reuse of Hangar One (pictured above).
Examples of the exciting scientific research and co-locating companies in the NRP are profiled in the BAE-authored Economic Benefits of NASA Ames. The NASA Ames project has received international recognition and numerous awards, including citation as a model case study in Understanding Research, Science, and Technology Parks, Global Best Practices by the National Research Council (2009), 2008 Deal of the Year by the Silicon Valley Business Journal for the NASA/Google ground lease, 2003 Innovative Real Property by the US General Services Administration (NASA Ames Development Plan). The project has been featured in special reports by Bloomberg TV and the British Broadcast Corporation.