A partnership led by Presidio Bay Ventures has secured $118 million to develop a 150,000-square-foot class-A, R&D and life science lab building in San Carlos, California. Square Mile Capital Management originated the loan with financing arranged by Jeff Wilcox of Gantry.

Near San Carlos Caltrain Station and walking distance to Downtown San Carlos, the development will transform an existing car dealership into a four-story class-A building that will aim to meet LEED Gold, FitWel, GBAC and USRC certifications. The property will feature art lab buildouts, a fitness center with full locker rooms, an approximate 4,000 square foot roof deck and outdoor seating.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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