189,000 square-foot Station 2 is the next office to be built at rapidly-growing urban village
San Mateo, CA- May 16, 2017 – Situated amid leading Silicon Valley companies, specialty retailers, new homes and apartments, and abundant parks and open space, Station 2 is the next office building to rise at Bay Meadows in San Mateo. Owner Stockbridge Capital and developer Wilson Meany announced they are breaking ground on the 189,000 square-foot building at 2850 South Delaware Street, adjacent to the Hillsdale Caltrain stop. Station 2 will be available for occupancy in year-end 2018.
Station 2 is the third of five planned Class A office buildings to be built at the pioneering 83-acre urban village. Bay Meadows Stations 1 through 5, all designed by HOK Architects, comprise a total 780,000 square-feet of office space. SurveyMonkey moved into Station 4 in December, joined by Ten-X and Zuora. This fall, OpenText moves into two floors of Station 3. Stations 1, 2, 5 and one floor of Station 3 are available for lease by Newmark, Cornish & Carey.
“When Zuora was searching for a new headquarters, we sought out a location to exceed the expectations of our employees who wanted a place to deliver their best work; an open, bright environment, optimal ergonomic workspaces, and convenient access to a variety of restaurants,” said Steve Umphreys, SVP, ZEO Success at Zuora. “Not only does Bay Meadows meet those needs, our employees now have better commute options, including bicycle storage, electric car charging stations, and a short walk to the Hillsdale Caltrain Station.”
Today’s announcement follows news of several retail tenants recently joining the neighborhood, including Fieldwork Brewing Co., Blue Bottle Coffee, Roam Artisan Burgers, Tin Pot Creamery and LIFT Fitness.
“With top companies and coveted retailers locating here and Bay Meadows’ for-sale homes and luxury rentals filling up, it’s clear our urban village is satisfying a great need in the region: a vibrant place to live, work and enjoy life,” said Janice Thacher, partner at Wilson Meany. “Among our new residents are employees with a five-minute commute to work. They can pick up a coffee and stroll across the Town Square for their first meeting of the day.”
With its central location, Bay Meadows is equally accessible to workers from San Francisco, Silicon Valley and the East Bay. San Mateo’s office market is increasingly attractive to businesses looking to draw top talent from throughout the Bay Area. The surrounding county is home to a growing number of companies, from global brands like YouTube, Sony, Franklin Templeton and Oracle to high-value start-ups like SolarCity and Marketo.
The model transit-oriented Bay Meadows development is sixty-five percent complete, with over 1600 residents in townhomes and apartments, the Nueva School serving 400 high school students, companies innovating in state-of-the-art offices, gardeners sharing in the community garden, visitors enjoying public art and neighbors regularly utilizing Bay Meadows’ 18 acres of parks and open space.
ABOUT BAY MEADOWS
Life in Motion
Bay Meadows was designed to give homeowners the luxury of pulling into their driveway on Friday evening and not have to drive again for the weekend. Whether they need groceries, want to enjoy a picnic in a gorgeous 12-acre park, plant heirloom tomatoes in the community garden, or hop on a train for a night out in San Francisco, residents can do it all car-free. They are also able to wake Monday morning and walk down the block to catch a train to an office in Silicon Valley, San Francisco or any destination served by Caltrain. Or, they can walk to work at the adjacent LEED-certified office buildings. Bay Meadows truly brings the concept of a “forwardly mobile” lifestyle to the Bay Area.
The Bay Meadows’ plan includes 1,000 units of housing, 780,000 square feet of LEED-designed office space and 18 acres of open space. The community’s Delaware Street is envisioned as a social hub, an intersection of work and play that inspires spontaneity and interaction. This urban village represents the new downtown-style and environmentally friendly living that residents and workers increasingly seek. For more information, visit baymeadows.com.
About Wilson Meany
Wilson Meany is a privately owned real estate investment and development firm focused on urban infill locations in the Western United States. Wilson Meany brings more than 35 years of experience to its mixed-use, residential, retail and office developments, all of which reflect the company’s commitment to integrity, innovation and quality, including San Francisco’s renowned Ferry Building. Founded in 2003, Wilson Meany and its predecessor entities have long been recognized among the most respected and consistently successful investment and development firms in the San Francisco Bay Area. Collectively, Wilson Meany’s partners and professionals have developed over 10 million square feet, including some of the most innovative and distinctive properties in California. For more information visit wilsonmeany.com.
About Stockbridge Capital
Stockbridge is a real estate investment management firm and Registered Investment Advisor founded in 2003. The firm and its affiliated advisor manage both commingled funds and separate accounts primarily on behalf of institutional investors, and also provide strategic advisory services with respect to real estate assets and portfolios. Stockbridge manages investments across the investment risk spectrum, including core, value-added and opportunistic strategies. Stockbridge and its affiliates have approximately $10.9 billion of assets under management (as of December 31, 2016) spanning all major real estate property types throughout the United States. The firm provides a full complement of expertise in acquisitions, dispositions, portfolio & asset management, finance, capital markets and accounting & reporting. Stockbridge is headquartered in San Francisco with offices in Chicago, New York and Atlanta. For more information visit stockbridge.com.