Santa Clara-based Orchard Commercial, Inc. has been awarded the Property and Construction management duties for an 11-building 622,000 square foot portfolio located in Stanford Research Park in Palo Alto and on prestigious Sand Hill Road in Menlo Park. The award is the latest in a series of new management contracts secured by Orchard during the pandemic and extends the firm’s position as the leading privately held Property Management company in Silicon Valley, with 13 million square feet under management.
Stanford conducted a broad review of qualified firms and selected Orchard based on its local knowledge, accounting resources and principal involvement. “We viewed their people, platform and overall value proposition as exceptional. They demonstrated diligence and thoughtful analysis throughout the RFP process and selecting them was a unanimous choice by our team,” said Tiffany Griego, Managing Director of Stanford Real Estate.
“The opportunity to partner with one of the world’s leading academic institutions and its two premier real estate portfolios is a tremendous source of pride for our firm. We are excited to play a key role in supporting our client’s objectives to improve best practices, gain operational and cost efficiencies and improve the quality and market appeal of the assets,” said Byron Renfro, President and COO of Orchard.
The portfolio includes properties that are home to a number of high profile firms such as Lyft, Goldman Sachs, Morgan Stanley and Microsoft and are among the most desired in the region by VC and other well-capitalized tenant groups.
Also included in the portfolio will be “the Hub” a new 22,000 square foot amenity building scheduled for completion next summer. The project will include high demand services such as a restaurant/bar, café, conference/event space, bike repair shop and outdoor seating & lounge areas. It will also include centralized management functions for Stanford and Orchard personnel.
“We are very excited to bring this concept to fruition for the benefit of our valued tenants and their employees in Stanford Research Park,” said Jamie Jarvis, Director of SRP Programs, who is charged with designing and programming the project. “Additionally, we are highly energized from the blending of Stanford’s talented team and Orchard’s Property Management expertise. We look forward to a long and productive relationship,” added Griego.
Orchard Commercial, Inc. traces its roots to 1973, when Orchard Properties, Inc. was founded and later developed 8 million square feet of office R&D property in Silicon Valley. In 2000, Orchard Commercial, Inc. under the ownership of Elizabeth and Joe Lewis focused on third-party property management services for institutional and private clients such as Travelers Insurance, Invesco, Morgan Stanley, CM Capital, Google, Informatica, James Campbell Company, DRA Advisors and overseas investment firms, high net-worth individuals and family Trusts.