Premia Capital Proposes New 141,000 SQFT Office Building in Redwood City

By Michele Chandler

A Bay Area development group is seeking to bring an office building and public park to a section of Redwood City that’s deemed to be a “key gateway” to the community’s downtown and the El Camino Real corridor.

Redwood City’s dynamic downtown and easy Caltrain access have made the city desirable to a number of builders.

Premia Capital, LLC of Redwood City filed the entitlement application for the Class A office building with city officials on November 21. Premia’s contact, Michael Hallow, did not respond to a request for details about his company’s plans by deadline.

The application asks for an architectural permit and variance to construct a 4-story office building at 1180 –1190 Main St. The proposed 141,636 square foot office project area currently consists of two sites that would be combined, with the existing building at 1190 Main Street demolished as part of the project.

“The application materials are currently being reviewed for completeness,” said William Chui, an associate planner with the city. If the application is deemed incomplete, “we’ll issue a letter to the applicant with comments, conditions and correction that will have to be addressed in a re-submittal,” he said.

The property is bounded by Main Street to the north, Lathrop Street to the south and Elm Street to the east. Maple Street and Pennsylvania Avenue are located to the west of the development. The proposed development is located within a half-mile of the Kaiser Permanente Redwood City Medical Center.

The project proposed a three-level subterranean parking garage, which would be accessed off of Elm Street and contain 425 parking stalls. The proposal also includes 72 short- and long-term bicycle parking spaces, which will utilize a vertical mount bike rack. Those bike parking spaces will be located off the lobby “to encourage sustainable commute ridership,” according to the plan.

The city is now reviewing the project for California Environmental Quality Act determination under that statute, which requires state and local agencies to identify the significant environmental impacts of their actions and to avoid or mitigate those impacts, if feasible

The exterior of the building would feature decorative brick, concrete, perforated metal screens and abundant glass. The decorative stairs and other features will be constructed of Brazilian walnut, an exotic wood from South America that’s also known as ipe.

Brick Architecture and Interiors of Emeryville is serving as the project’s architect, while Rana Creek Design of Carmel, California is the landscape architect. Civil engineering firm BKF Engineers, Surveyors, Planners of Redwood City is also involved in the project, according to the entitlement application.

An unfinished emergency access bridge located above an existing culvert will be incorporated into the park, the plan said, “and provide the main pedestrian entry to the proposed office building. It is intended that this bridge become both a gateway to the building and a landscaped element to be shared with local patrons in the area, the application said.

Also planned for the building—an exterior “grand stair” to connect the building and its pedestrian traffic to the city’s downtown. The stair “is intended to encourage the public to come sit, activating this pathway with energy and daily social interaction,” the report said, and will feature landscaping and open seating areas.

Redwood City is seeing robust demand for office space, according to a recent report from Colliers International that examines results from the third quarter of 2017.

The largest deal of the quarter was 550 Broadway in Redwood City. Stanford Health Care purchased the 71,239-square-foot building from The Blackstone Group for nearly $40 million.

Other high-profile office leases in Redwood City include the Chan Zuckerberg Initiative, which leased 102,079 square feet in a new project in January. The philanthropic organization founded by Facebook Inc. CEO Mark Zuckerberg and his wife Priscilla Chan took the full four stories of office space at 2075 Broadway. The project also has about 12,000 square feet of retail on the ground floor. Menlo Park-based Lane Partners, which is known for selling the Uptown Station project in Oakland to Uber Technologies in 2015, is developing the building.

West Coast Commercial Real Estate News