Saturday, November 29, 2014

San Mateo Bay Meadows development races into the future

San Francisco Chronicle/Andrew S. Ross, 11/28/14.  "Latest place to benefit from tech boom: San Mateo County."

Tech boom benefits San Mateo Bay Meadows
office/retail/housing development,
perfect development, right timing
"San Francisco and Santa Clara County are two of the hottest commercial real estate markets in the region, if not the nation.  So hot that some of the biggest names in tech town are looking fondly at an area smack dab in the middle of the two: oft-forgotten San Mateo County. 

....  Ground is being broken next week on the first of five office buildings totaling up to 1.5 million square feet in a development dubbed Bay Meadows Station 4.  ....  “We’re very bullish on the area, from office to residential. It’s right in the heart of things in the Bay Area, between San Francisco and San Jose,” said Janice Thacker, partner at San Francisco’s Wilson Meany, the project’s master developer, in partnership with San Francisco real estate investment firm Stockbridge Capital Group. 

....  If former Reddit CEO Yishan Wong is reading this, he’s entitled to some schadenfreude. Wong wanted to relocate Reddit’s headquarters from San Francisco’s South of Market district to a new Class A office building in Daly City ($45 per square feet), right off Interstate 280, and a couple of blocks from BART. That led to his resignation this month over what he described in a blog post as “strategic disagreement” over the move. In other words, probably a staff rebellion something along the lines of: why would we work there?"  Read article.

Note:  Reference  - SocketSite, "Bay Meadows office development breaking ground."  See Bay Meadows teaser, video 1:21 minutes.  Note graphic for developer Wilson Meany from SocketSite.  

Posted by Kathy Meeh

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