The Peninsula market has been gaining traction with employers over the last year or so as office space to the south in Silicon Valley and to the north in San Francisco has been pushing companies to consider alternatives along the Caltrain corridor. Guidewire Software, which has offices in several cities across the country, as well as Ontario, Canada, will be relocating its headquarters from 1001 E. Hillsdale Blvd. in Foster City to Wilson Meany’s Bay Meadows development called Station 2 in San Mateo. It has signed the lease to take the entire building, which is 189,000 square feet, according to a report from Colliers International.
Located at the southwest corner of S. Delaware and East 28th, Station 2 is an L-shaped structure including two rectangular wings nestled together—one parallel to East 28th and the other adjacent to the Caltrain rail line, according to Wilson Meany’s web site. The building includes large floor plates on levels two through four, with space for retail and active use on a portion of the ground floor.
Wilson Many declined to comment on the transaction details when reached for this story.
The Bay Meadows development has been decades in the making, and it is one of the Peninsula’s most prominent mixed-used developments that began its realization in this cycle. It sits right on the Caltrain line, and it is currently serviced by the Hillsdale Station stop adjacent to the Hillsdale Shopping Center in San Mateo. The development is also in close proximity to State Route 92, which is a major east-west corridor that connects the Peninsula to the East Bay via the San Mateo bridge, as well as US Highway 101, one of the main arteries that runs through Silicon Valley and connects it with San Francisco.
Other companies in the property include Survey Monkey, Open Text, Ten-X and Zuora, to name a few. The residential component is nearly built out, and there is a retail portion of the development, which is actively getting occupied.
“With top companies and coveted retailers locating here and Bay Meadows’ for-sale homes and 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,” Janice Thacher, Wilson Meany partner said in a statement during the groundbreaking of Station 2 in early 2017.
