Presidio Bay Ventures Takes Overs Construction of Mixed-Use Development in Menlo Park, California
MENLO PARK, CALIF. — San Francisco-based Presidio Bay Ventures has taken over construction, lease-up and stabilization of the 6.4-acre mixed-use development, located at 1300-1302 El Camino Real and 550 Oak Grove Ave. in Menlo Park. The strategic operation of the project, renamed Springline, was transitioned to Presidio Bay mid-construction in June. Since then, the firm’s development team has overhauled nearly all aspects of the project.
Situated in Menlo Park’s pedestrian-oriented downtown city center, Springline will feature two 100,000-square-foot Class A office buildings, 183 residences, retail, dining, a dual-level subterranean parking garage and public outdoor space.
Approved by Menlo Park City Council in early 2017, original construction for the project started later that year. Delivery of the commercial buildings is slated for fourth quarter and leasing of the residential component is scheduled to begin in second-quarter 2021.
Christian Prelle, Mike Courson and Clay Jones of Newmark Knight Frank’s Palo Alto, Calif., office, along with Cassidy Zerrer of NKF’s San Francisco office, are handling office leasing efforts for the project.