By Jon Peterson
On the heels of successful development across its Bay Meadows development project, San Fransisco-based Wilson Meany and its capital partner Stockbridge are looking add more space to its mixed-use project in San Mateo in the near future. The developers are now working on final construction drawings for Station 6 and 7, the two projects they are looking to construction in the near future. The City of San Mateo has not formally assigned addresses for these buildings at this time
“We are hopeful that these drawings will be completed by the end of this year, and then we can start construction at some point after that,” says Janice Thacher, a partner with Wilson Meany who is helping lead the development efforts with the firm. The total square footage of the two buildings is projected to be around 300,000 square feet, and Webcor has been picked to be the general contractor on this project.
Wilson Meany is planning a very flexible design on the new buildings given the evolving environment and utilization of workspaces, and the firm will be looking at market dynamics in the future to determine if it will need leasing commitments in order to start construction. “We have not made any final decision if the two new buildings will be a single- or multi-tenant assets. The Bay Meadows project overall has both single and multi-tenant buildings [presently]. It has not been determined yet if we will start the next two buildings on spec or if we need some type of leasing before we start construction,” said Thacher.
Wilson Meany and Stockbridge have recently completed one new office building and are in the process of finishing another one at Bay Meadows. Station 1, which is around 219,000 square feet, has been completed and is located at 2750 South Delaware Street. Station 5, located at 3150 South Delaware Street, is a 214,000-square-foot building still under construction and should be completed by May of 2023, according to Wilson Meany.
Both of these buildings are fully leased to Roblox, a San Mateo-based video game company. This firm considers the space in the new buildings an expansion to its corporate headquarters located at 970 Park Place in San Mateo, also located in the Bay Meadows neighborhood. This property is a three-minute walk to the new buildings at a distance that is less than one mile. The leases signed by the company took place earlier this year.
The developers of Bay Meadows are also adding some apartments into the mixed-use project. In May of this year, construction started on the 54-unit The Hawthorne residential complex. On the retail side, Bamboo Asia restaurant is now in the process of working on its tenant improvements for its new space in the complex.