A major Chinese state-owned property developer has pulled out of a large-scale biotech industrial park project in San Francisco, becoming the latest Chinese firm to scale back ambitious real-estate investments in the U.S.Shanghai-based Greenland Holding Group has sold a 40-acre development site in South San Francisco to Los Angeles-based Kilroy Realty Corp. for $308 million, two years after purchasing it. Kilroy plans to develop an 11- building laboratory and office complex.

Source: Wall Street Journal June 04, 2018 22:07 UTC