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| 250 California, a 44,605-SF office property in Burlingame, CA |
SAN FRANCISCO, CA, June 10, 2020 – JLL Capital Markets
announced today that it has arranged $33.8 million in construction financing
after arranging a joint venture equity partnership for the speculative
development of 250 California, a 44,605-square-foot office
property in Burlingame, California.
JLL worked exclusively on behalf of Dewey Land Company and
DivcoWest to capitalize the project through a joint venture partnership and
construction loan.
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| Jordan Angel |
Due
for completion in 2022, 250 California will feature four stories of
best-in-class office space, ground-floor retail and a three-level subterranean
parking facility.
The transit-oriented building has a premier location in downtown Burlingame immediately adjacent to the Burlingame Caltrain station and just minutes away from Highway 101 and State Routes 82 and 92.
Additionally, 250 California is surrounded by a
rich amenity base of restaurants and retailers and has direct access to the
executive housing corridor off of Interstate 280 that includes Hillsborough,
Woodside, Portola Valley and Los Altos Hills.
The JLL Capital Markets team representing the borrower was led by
Managing Directors Jordan Angel and Chris Gandy.
”250 California represents an extraordinary opportunity to work
with two of the best developers in the Bay Area to bring to market an incredibly
located building that will provide an unparalleled office experience for high
end tenants in downtown Burlingame,” Angel said.
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| Chris Gandy |
For more news, videos and research resources on JLL, please visit
the firm’s U.S. media center Web page: U.S. newsroom.
Jones Lang LaSalle Americas, Inc. (“JLL”) is a real estate broker
licensed with the California Department of Real Estate, license #01223413.
Jordan
Angel,
JLL
Managing Director
CA Lic.: #01223413
Phone: +1 415 276 6300
Email: Jordan.Angel@am.jll.com
Kristen Murphy,
JLL
Senior Manager
Public
Relations
Phone: +1 617 848 1572
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