The San Francisco based developer represented by PeregrineProperties is also planning to develop a second, similarly-sizedbuilding on an adjacent parcel of land. The second project has notyet been approved. As some of the only substantial build-to-suitspace going up in the city right now, Peregrine and the privatelyheld 1828 Egbert Avenue LLC hope that their space will lease at apremium.

"Most people would tell you that our space [is] worth more thanconverted warehouse space, says Jensen. "We can provide themsomething built from the ground up to telecom standards."

In addition to the combined 412,000 sf that the two projectswill eventually encompass, a multi-level, above-ground parkingstructure is planned for tenants of the two buildings. The parkingstructure is slated to also include underground fuel storage topower generators for the two buildings.