One of Google’s New Homes Gets $103M Loan
600 Clyde Ave. will be a five-story 189,974-square-foot LEED Platinum office building and an adjacent parking structure on a 5.2-acre site that is fully pre-leased to Google LLC.
MOUNTAIN VIEW, CA—Upon completion, 600 Clyde Ave. will be a five-story 189,974-square-foot LEED Platinum office building and an adjacent four-story parking structure on a 5.2-acre site. The fully entitled project recently began construction with completion and delivery anticipated for July 2020.
The property is fully pre-leased to Google LLC. PCCP LLC recently provided a $103 million senior loan to Renault & Handley Mid-Peninsula Joint Venture for the development of 600 Clyde Ave.
“This loan provides PCCP with an ideal combination of best-in-market real estate product, robust Mountain View office market and a long-term lease by a very strong credit tenant,” said Dorian Farhang, vice president with PCCP. “Additionally, the project administrator, Renault & Handley, is an established full-service brokerage and property management firm with significant experience in the Silicon Valley market.”
Renault & Handley Mid-Peninsula Joint Venture originally acquired the site located at 580 and 620 Clyde Avenue in 1968 and the firm developed the land into two separate industrial/R&D buildings totaling about 75,000 square feet, which were demolished last year for this project. 600 Clyde Ave. will feature a 9,600-square-foot sky-deck with outdoor seating and working stations, a fitness center, employee showers and bike storage. Additionally, the parking garage will accommodate circulation of full-size employee shuttle buses.