Guys, I see no mention of Onyx, who occupies the 249 building?
And as for 170, it's across Harbor on the other side only connected by the bridge.
This is desparation on the EXEL part to lower their lease costs.
On July 25, 2011, Exelixis, Inc. (the "Company") entered into a Sublease with Nodality, Inc. ("Nodality") with respect to the sublease by Nodality from the Company (the "Nodality Sublease") of the entire second floor (25,110 square feet) of the building ("Building 170") located at 170 Harbor Way, South San Francisco, California (the "Nodality Subleased Premises"). On the same date, the Company also entered into a separate Sublease with Threshold Pharmaceuticals, Inc. ("Threshold") with respect to the sublease by Threshold from the Company (the "Threshold Sublease" and, together with the Nodality Sublease, the "Subleases") of a portion of the first floor and the entire third floor of Building 170 (together, 28,180 square feet) (the "Threshold Subleased Premises" and, together with the Nodality Subleased Premises, the "Subleased Premises"). The Subleased Premises are leased by the Company pursuant to that certain Build-to-Suit Lease, dated as of May 12, 1999, as amended (the "Master Lease"), between the Company and HCP Life Science REIT, as successor in interest to Britannia Pointe Grand Limited Partnership (the "Landlord"). The Company has no material relationship with either Nodality or Threshold apart from the Subleases.
It means the sub lease lets Exel spend less money. That's all plain and simple. Didn't you read or hear what Exel has been saying? Their whole focus is on Cabo. Your idea of a collaborative venture is a dream. When Exel first moved to Oakland they shared a building space with another company. It was simply a cost saving matter. The two had no collaboration. When they moved to the second building in S.F.F. they shared it with two other companies. It also was simply a cost saving matter. It's Cabo or nothing. In 2 months or less we'll have more important info. and a better idea of what will happen.
Of course I see the financial and cost saving benefit...but please allow me to further explain my slant on the confluencing of eggheads- whether intended or not- whether for business, pleasure, or science. I worked for many years as a backcountry guide in Arizona. Thru the years, I had the pleasure to participate in several research trips on the Colorado river. These trips drew scientific talents from many disciplines, and the diversity of backgrounds and educational perspectives made every trip an absolute pleasure. The evening conversations knew no boundaries. Lifelong friendships were made, existing science projects were discussed...future projects theorized. New contacts were a daily event. Talent recognition and idea sharing an endless and ongoing apertif. I understand the business aspects of your reply, but I still see a gaggle of eggheads sharing a roof. I was merely pointing out that - in my experience - this will facilitate collaboration - whether intended or not.