Woodstock Development Obtains $11.5MM in Refinancing for New BART Connected MOB / Office Project

Woodstock Development, Union City, BART, 1320 Decoto, Ware Malcomb Architects, Fremont Bank, Union1.2@BART
Image Courtesy of Woodstock Development

BURLINGAME, Calif., January 7, 2020 – Woodstock Development has announced the refinancing of 1320 Decoto Road in Union City, California arranged with Fremont Bank for permanent refinancing totaling $11.5 million. The newly constructed 2-story building totals approximately 32,000 square feet on a 1.5 acre site adjacent to the Union City BART Station. Designed by Ware Malcomb Architects, the building was 100% pre-leased prior to breaking ground and is leased to an international medical office user and a leading A.I. company. Strategically located with direct rail connection for commuters from San Francisco, the East Bay and Tri Valley, the building also enjoys a prominent location along Decoto Road with walking access to the Union Square Market Place shopping center and views of the Dry Creek Preserve and Charles F. Kennedy Park.

“This is an exceptional property in a thriving neighborhood with a strategic location at BART. This new building, and its tenants, are an exciting addition to the momentum that continues to build at the Union City Station District. We are excited to work with Fremont Bank in this dynamic market,” said Kirk Syme, President of Woodstock Development.

The City of Union City last month approved its General Plan Update which includes Woodstock’s 1.2 mil sq ft Office/Life Science project – Union1.2@BART- also adjacent to the BART Station.  The plan is a next generation Silicon Valley Campus designed by DES Architects and includes three 6, 7 and 8 story buildings.

Syme highlighted, “Woodstock has been working closely with the City to realize a forward-looking vision for the Station District. The approval of the General Plan Update is a significant step for our new development at the BART station.”

About Woodstock

Woodstock Development, Inc. is a diversified real estate investment and development company headquartered in Burlingame, CA, just south of San Francisco. It was founded in 1995 by Kirk C. Syme who oversees all company operations, including property acquisitions, entitlements, development, and property/asset management. Over the last 25 years, Woodstock Development has entitled and/or developed over 3 Million square feet of Class A Office and Life Science space in the Bay Area. 

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