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  • Writer's pictureVannesa Vasquez

In the News: Pioneering Spaces: Transforming Santa Clara with Industrial Innovation, Launching San Carlos's New Life Science Hub, and Alameda's Leasing Success in Q3 2023

Related Companies Suggest Using Industrial and Manufacturing Space in Place of 4MM SQFT of Office Space in the Santa Clara Project

Related Companies is taking a strategic step forward with its Related Santa Clara project by filing an application to amend its Master Community Plan (MCP). This amendment aims to adapt to the current market demand by incorporating light industrial and advanced manufacturing uses into the project, replacing around 4 million square feet of originally planned office space with up to 1.6 million square feet for these new purposes. The rest of the office space is to be integrated into the mixed-use City Center, without altering the project's total square footage. This move is expected to not only align the project more closely with economic realities but also to accelerate the delivery of economic benefits to Santa Clara. Related is optimistic about advancing construction and enhancing the city's economic landscape through this adjustment. The company has already marked progress with the topping out of two towers at Tasman East, contributing to the city's housing goals with 684 units, including senior housing, and a $12M subsidy for affordable housing. The amendment process will include an environmental analysis, with preliminary findings suggesting reduced peak traffic impacts. This adjustment in the MCP reflects Related's commitment to creating a vibrant, mixed-use destination that supports Santa Clara's development and housing objectives.

Approved is the 340,000 SQFT San Carlos Life Science Hub located at 841 Old Country Road by Sobrato Organization.

San Carlos is poised to enhance its life sciences landscape with the City Council's recent green light for two innovative life science buildings by the Sobrato Organization at 841 Old Country Road. This development, contributing 340,000 square feet of space near the city’s Caltrain station, is part of a broader initiative to promote innovation within the San Mateo County area. The project not only capitalizes on its proximity to transport links but also integrates generous public open spaces, surpassing initial plans.

Designed by STUDIOS Architecture, the project features a distinctive double-height glass skybridge connecting two buildings, embodying the city's blend of innovation and industrial history through a mix of natural materials and modern design. The development aims to become a key feature of the East Side Innovation District, offering a mix of lab and office space across its north and south buildings, with the south building rising to five stories and the north to four.

The Guzzardo Partnership has crafted the landscape to center around a welcoming courtyard, enhanced by multiple outdoor terraces that encourage a healthy and engaging work environment. With construction set to begin with the South Building, the project will ultimately provide 745 car parking spaces in underground garages and bike parking facilities, fostering a commuter-friendly environment.

Located across a pedestrian pathway leading to Laurel Street's commercial area, this 3.4-acre site will undergo significant transformation, including the demolition of existing structures, over an estimated three-year construction period. The completion of this project will mark a significant milestone in San Carlos's growing life sciences sector, aligning with the city's vision for innovation and sustainable development.

In 2023 Q3, Research Park at Marina Village in Alameda saw about 100,000 SQFT in new and expanded leases.

The Research Park at Marina Village in Alameda, a life science and office campus of around 1.3 million square feet managed by Blue Rise Ventures in partnership with DRA Advisors, reported significant leasing activity in the third quarter of 2023, securing nearly 100,000 square feet in new and expanded leases. Key new tenants include Mekonos, Mosaic Materials, and Sepion, occupying spaces of 11,000, 13,000, and 23,000 square feet respectively, highlighting the campus's appeal to innovative firms in biotechnology and clean energy.

Blue Rise Ventures, praised for its experienced project management team and ability to deliver specialized spaces, has successfully navigated challenges such as tenant funding difficulties by quickly backfilling space. The company emphasizes flexibility in capital and lease arrangements to support tenant needs during tighter capital periods, which has been crucial for executing leases effectively.

Looking forward, Blue Rise aims to continue attracting tenants by leveraging the site's proximity to major academic hubs, addressing the demand for innovation-driven real estate. The Research Park currently hosts over 30 life science and research tenants across 32 buildings, with a significant portion of its square footage dedicated or convertible to life science use. Since its acquisition in May 2019 for $265 million, Blue Rise and DRA Advisors have enhanced the campus's profile, which serves as a critical hub for companies like BioTime and Heliotrope. DRA Advisors, with a long history of real estate investment and management, partners in this venture, highlighting the strategic importance of the Research Park at Marina Village in the life sciences sector.

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