Construction is wrapping up for the latest life science development at 1091 Industrial Road in San Carlos, San Mateo County. The project is part of a new hub for the biotech and medical research market on the Peninsula. Premia Capital and Prince Street Partners were jointly responsible for the development before selling it to the Florida State Board of Administration in 2021 for $177 million.
San Mateo County
Construction has reached the third floor at 1030 Brittan Avenue in San Carlos, San Mateo County. The development is the third location in the city by MBC BioLabs and Dewey Land, close to their second location at 930 Brittan Avenue. Dewey Land purchased the site in early 2022 for $20 million.
South San Francisco Planning Commission is scheduled to review plans for a six-story R&D campus at Terminal 101 Court in South City, San Mateo County. The proposal will replace a surface parking lot next to the Golden Gate Produce Terminal, close to Freeway 101, and near Southline. Steelwave is the developer after buying the site in 2022 for $85 million.
Plans have been approved for the six-story apartment complex at 11 El Camino Real in San Carlos, San Mateo County. The proposal aims to replace a CVS Pharmacy and surface parking with 242 apartments. Palo Alto-based Summerhill is the project developer.
Construction has started with excavation work well underway for a new six-story life sciences complex at 405 Industrial Road in San Carlos, San Mateo County. The project, now named Portal 405, is one of several life science projects rising along Industrial Road, contributing to a new life sciences hub in the San Francisco Peninsula market. Menlo Equities and Beacon Capital Partners are joint venture partners for the project.