Presidio Bay Ventures, a leading Bay Area commercial real estate development firm, has announced plans to construct a Research & Development and Life Sciences building at 777 Industrial Road in San Carlos. The project proposal includes the redevelopment of the former Primo Honda San Carlos dealership into a four-story research campus.
Stanton Architecture and DES Architects & Engineers have partnered up to design the project.
The life sciences and R&D campus will span an area of 147,000 square feet. The campus will be exclusively listed for tenants by Cushman & Wakefield’s Marc Pope and Ben Parl. The development will serve as a gateway to Innovation District, a multi-modal neighborhood that integrates exisiting and new businesses designed to offer a resilient and inclusive future. The new R&D and life sciences campus will be in the heart of the Peninsula.
The project is envisioned as an environmentally sustainable redevelopment to inspire innovation and breakthroughs across multiple industries through thoughtfully designed buildings with tech-fueled mechanical infrastructure, as well as amenities that support employee health, wellness and connection. The property will offer highly amenitized lab facilities and easy access to CalTrain, restaurants and services in the area. The campus will boast LEED Gold, FitWELL, GBAC and USRC certifications.
The contemporary design is specifically tailored toward research and development with a heavy lab component, including life science and biotech, food tech, agricultural tech, auto tech, drone tech, robotics, among other users from a design and functional perspective exclusively focused on mission-critical infrastructure. Optimized with sustainability and user experience top of mind, this building allows employees to thrive with personalized amenities including e-bikes, outdoor workspaces equipped with WiFi, and an onsite fitness center.
The project will create approximately 500 new jobs in San Carlos as well as an increased property tax base. Community benefits will include a commitment to local civic and business life through the San Mateo County Chamber, an $80k Sequoia Union School District contribution, a $2M+ San Carlos Affordable Housing contribution, support for the Parks and Recreation Foundation of San Carlos, affordable housing support through active housing development expansion to San Carlos and an Art in Architecture Program. Construction is slated to be completed by the end of 2023.
The project was approved by the city of San Carlos in June 2021.