174,000 square foot Station 3 – steps from the Caltrain Hillsdale Station – will be tenant-ready within 21 months
San Mateo, CA – November 17, 2015 – Adjacent to the future headquarters of SurveyMonkey, Station 3 is the next office building to be constructed at Bay Meadows in San Mateo at the Hillsdale Caltrain stop. Owner Stockbridge and developer Wilson Meany announced today that they are breaking ground on the 174,000 square feet, Class A office building designed by HOK Architects.
Station 3, located at 2850 South Delaware Street, is the second of five planned office buildings at the 83-acre mixed-use community in San Mateo – all of which are being leased by Newmark Cornish & Carey.
The world’s leading online survey platform, SurveyMonkey, recently leased the entire 199,000 square feet of Bay Meadows Station 4, which is currently under construction and scheduled for occupancy in January 2017. With a planned 780,000 square feet of office space, Bay Meadows Station is the largest new Class A development on the San Francisco Peninsula. The offices are situated on a street that will feature storefront retail, cafes, a biergarten and outdoor social spaces in the midst of an urban village. With its central location, Bay Meadows is equally accessible to workers from San Francisco, Silicon Valley and the East Bay.
“The right firm could see its workers producing and innovating at Station 3 in just 21 months,” said Janice Thacher, partner at Wilson Meany. “In addition to great transportation options, proximity to open space, and the area’s fantastic retail, grocery and dining options, Bay Meadows’ bustling community and available for-rent and for-sale product is proving to be a true differentiator that will help companies attract and retain talent.”
As office space in San Francisco and the South Bay dwindles, San Mateo is increasingly attractive to businesses looking to draw top talent. The surrounding county is home to a growing number of creative companies, from global brands YouTube, Sony, Franklin Templeton and Oracle to high-value start-ups GoPro and Marketo.
“We loved how the sophisticated design of Bay Meadows’ buildings encourages employees to spend time in the community where they might run into residents at cafes or play bocce ball with employees from other firms,” noted Tim Maly, CFO and COO of SurveyMonkey. “Being a part of an urban campus is very important to us, and is one of the top reasons we chose Bay Meadows as our new habitat.”
The pioneering transit-oriented development is well underway with hundreds of residents in townhomes and apartments, the Nueva School serving high school students, and visitors regularly utilizing Bay Meadows’ variety of parks and open space. In addition to Bay Meadows Station, construction at the new community will continue over the next several years with Meadow Walk by Shea Homes completing in 2016, completion of Station 4 and two mixed-use buildings that circle the Town Square, which will feature restaurants, cafes and retail in 2017.
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-certified 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 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 affiliated advisor have approximately $9.8 billion of assets under management (as of March 31, 2015) 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 www.SBFund.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 www.wilsonmeany.com.