JLL Arranges $33.8M Construction Financing for Spec Office Development in Bay Area
BURLINGAME, CALIF. — JLL Capital Markets has secured $33.8 million in construction financing for the development of 250 California, a speculative office building in Burlingame.
Jordan Angel and Chris Gandy of JLL represented the borrower, Dewey Land Co. and Divco West, to capitalize the project through a joint venture partnership.
Slated for completion in 2022, the 44,605-square-foot project will feature four stories of office space, ground-floor retail space and a three-level subterranean parking facility. The transit-oriented property is situated in downtown Burlingame immediately adjacent to the Burlingame Caltrain station, near Highway 101 and state routes 82 and 92.