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.

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"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."

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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.

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