200 Twin Dolphin Drive. Picture courtesy of Trammell Crow Co.
The three way partnership of Trammell Crow Co. and CBRE Funding Administration has damaged floor on a 234,000-square-foot life science improvement in Redwood Metropolis, Calif. DGA is the architect of report, whereas Truebeck Building serves as normal contractor. Completion is anticipated throughout the fourth quarter of 2024.
The five-floor Class A challenge rising at 200 Twin Dolphin Drive in Bay Space’s Peninsula will function a rooftop deck, outside terraces and entry to strolling and biking trails. Electrical car charging will likely be obtainable on the property, which is aiming for a LEED Gold certification. A CBRE staff comprising Mike Moran, Damon Schor and Charlie Moran are managing advertising and leasing on the facility.
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The challenge’s beginnings date again to 2018, when Sand Hill Property Co. proposed the demolition of a six-asset workplace campus current on location on the time; two new workplace buildings have been to take its place.
Nevertheless, plans modified over time. In 2021, the developer submitted a brand new proposal to Redwood Metropolis authorities, together with a five-story workplace constructing and a five-level storage. Though accepted, the challenge by no means took flight and, one 12 months later, Trammell Crow bought the 4.7-acre improvement web site from Sand Hill for some $65 million.
The property will likely be simply east of U.S. Route 101, throughout from the Pink Shores Lagoon. Downtown San Francisco will likely be some 23 miles away.
Current life science exercise in San Francisco
Better San Francisco remained the costliest market in western U.S., in keeping with a current CommercialEdge report. The metro additionally had one of many nation’s highest emptiness charges in June, which the report attributed to difficulties surrounding the tech sector. Vacancies reached 21.1 p.c, up 3.6 p.c year-over-year.
Nevertheless, the metro continues to draw life science tasks. In March, Prologis requested the native authorities’ approval for the development of a 550,000-square-foot campus in South San Francisco. The event web site is simply south of 100 E. Grand Ave., one other parcel the place the agency plans to construct a lately entitled 600,000-square-foot life science campus.
Different current life science offers within the space embrace IDEAYA Biosciences’ current settlement to occupy 44,000 sq. toes at DivcoWest’s South San Francisco’s Sierra Level life science hub, and Madison Capital Group’s acquisition of a 575,775-square-foot analysis and improvement campus in Fremont, Calif.
